S&P 500 Summary and technical outlook

Joquin
2021-10-10

[Smile] S&P inched down 0.19% to close at 4391.35posting weekly gains of 0.79%

Wall Street decided to push all 3 major indexes down in the last 1 hour of trading on Friday. Bond Markets closed on Monday for Columbus Day can give a breather to the 3 indexes before what is to come on Tuesday.


[Smile] S&P 500: 

Once again it failed to breakout of the trend line retreating immediately touching resistance at $4429. 

Now sitting below the 50 Ema the bears might try to push the price down to the next key level of support at $4369 next week. 

On the other hand bulls could try to consolidate above support of $4369 before making a strong breakout passing through the the trend line and resistance at $4429. However with rising 10 Y treasury this could foil the plans for the bulls to initiate a successful breakout

[Glance] What do you guys think about next week? Do you think the the bulls are going to succeed pushing S&P up or the bears are going to step in eradicate the bull’s plans on hitting new high this year and push the price even lower?





$S&P 500(.SPX)$

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精彩评论

  • ViolaWright
    2021-10-12
    ViolaWright
    Market crash this week. Today's close very bearish. Wait until the bond traders come back tomorrow -SPY down to 200 DMA -Back to back bearish engulfing after getting rejected from the 50 DMA resistance. -Textbook deadcat bounce failure -Interest rates going up, inflation out of control China defaults, Taiwan issues -But wait everything is alright at 30 plus PE
  • JackJackson
    2021-10-12
    JackJackson
    Down 80 S&P points by Wednesday...if not tomorrow close...CPI will be too high & Fed will not abstain from tightening...chickens are coming home to roost. Looks below 4,000 by Friday close. Time to start giving back.
  • PhilipJones
    2021-10-12
    PhilipJones
    Tomorrow will mark thirteen sessions since ANYONE has paid more than $444.75/Share for the SPDR S&P 500 ETF Trust (SPY)
  • TristaDickey
    2021-10-12
    TristaDickey
    Let's wait for the financial statements.It's hard to say S&P will go up or not in a short time,but long term bullish on it.
  • Leoopl
    2021-10-11
    Leoopl
    The S&P 500 is likely to plummet over the next decade.
  • Jim1995
    2021-10-11
    Jim1995
    I think the bears may have the upper hand.
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