Saturday, October 7, 2017

Post:0021 S&P 500 SPX , 7th of October 2017

S&P 500 SPX Analysis

It is clear that S&P 500 SPX exposed to weakness despite of the rising value, as we see above on the charts there is a weekly framed confirmed trend channel connecting bottoms (buyers entries) from year 2009 till now & the S&P 500 SPX value reaches the parallel upper boundary of the channel which makes us believe that it will not go any further (upwards) & this is the beginning of a downward deep correction, also the macd histogram indicator (which is a very leading reliable indicator) is forming a -ve (bearish) divergence on the quarterly time frame & this must be taken into account, the monthly time framed support level is a 2130 (attractive).

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