Action over the last three days is anything but motivating for the bulls. We had a gap up opening on Thursday followed by a weak closing well below Thursdays’ opening level on Friday…This was followed by sharp losses on Monday.
However, bears should not get too excited as the index is still well above key important levels in the area of 2126-2119.
2126 is the rising trend line support
2125 is the monthly pivot support
2119 is September 12 low from where prices rebounded earlier this month
Overall, 2120 is the key support if you take into consideration the technical and fundamental view discussed in today’s opening segment video here titled - Market roundup: S&P 500 looking wobbly as presidential race reaches last lap - www.youtube.com/watch?v=oelBpxra...
However, bears should not get too excited as the index is still well above key important levels in the area of 2126-2119.
2126 is the rising trend line support
2125 is the monthly pivot support
2119 is September 12 low from where prices rebounded earlier this month
Overall, 2120 is the key support if you take into consideration the technical and fundamental view discussed in today’s opening segment video here titled - Market roundup: S&P 500 looking wobbly as presidential race reaches last lap - www.youtube.com/watch?v=oelBpxra...
