The hopes on the market are up, after both NASDAQ and S&P 500 rose through the day. Investors were concentrated in high-growth stocks and there was an optimism regarding debt ceiling deal being reached soon.
Other factors that were influencing the upward movement of the market were better-than-expected earning reports, slowing down of the aggressive rate-hike and less-than-expected jobless benefits claims.
Both MACD and RSI indicators are confirming the trend, with MACD histogram above zero and rising and RSI above 50 neutral line and rising as well, although it had approached and even surpassed the overbought line.
If the current trend continues, the price might reach levels of 14230 and even 14540. In the opposite scenario, the price might revert to levels of 13740 or 13500.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Other factors that were influencing the upward movement of the market were better-than-expected earning reports, slowing down of the aggressive rate-hike and less-than-expected jobless benefits claims.
Both MACD and RSI indicators are confirming the trend, with MACD histogram above zero and rising and RSI above 50 neutral line and rising as well, although it had approached and even surpassed the overbought line.
If the current trend continues, the price might reach levels of 14230 and even 14540. In the opposite scenario, the price might revert to levels of 13740 or 13500.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.