I commence with my gratitude to The All-Knower
The Standard & Poor’s 500 Index had subsisted its first test of the 200-day moving average.
Is the current upturn sustainable now?
Noteworthy struggle holds at the April low of 1,294, a level that’s restricted the index for two weeks.
Meanwhile, the Dow industrials’ near-term outlook is similar. it’s blasted the resistance at the April low of 12,093. This becomes the area now for first support.
SPX Support holds around 1,279, and below that, a more important floor at the 200-day, currently 1,260.
Nasdaq Composite, Nonetheless, has broken back above its 200-day moving average in T0day’s early price action, and this area has become first support and is followed by another minor floor at 2,685.
With a corrective rally underway, resistance in the 2,700 area marks the Nasdaq’s next major technical hurdle.
THE MOST ACCURATE FORECASTING OF FINANCIAL MARKETS
http://trade-in-harmony.blogspot.com/