News Links and Chart Links Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : News Links and Chart Links

SPXL 200.43

+2.9%

Nov 21 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Les H	10/18/2023 10:57:22 AM
	2 Recommendations Recommended By Lee Lichterman III The Ox Read Replies (1) of 29599

Shares of NVIDIA are carving out a head-and-shoulders topping pattern, but, aside from near-term risks, the technicals for this market leader remain quite positive for the longer-term. Stocks closed little changed on Tuesday as a stronger than expected read of retail sales in the US had investors pushing the cost of borrowing higher in anticipation of further aggression on the part of the Fed ahead. The S&P 500 Index ended lower by less than a point, remaining stuck below resistance at the declining 50-day moving average at 4400. Support can be pegged at the 20-day moving average at 4318. It will be telling of the intermediate direction of the market heading into best six months of the year timeframe which of these hurdle holds, either support below or resistance above. The benchmark is still within this short-term trend of lower-lows and lower-highs, but the risk-reward remains enticing around the band of support between 4100 and 4200. equityclock.com I have ZERO buys in the S&P 500. Most every index is above or near 95 percent signals which is a strong indication of an imminent reversal.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next