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TradeSelecter
Nov 11, 2023 11:23 AM

S&P 500 Daily Chart Analysis For Week of Nov 10, 2023 

S&P 500SP

Description

Technical Analysis and Outlook:
The Spooz index pivoted briefly from the completed Inner Index Rally 4375. This transition allowed traders with long positions to exit with prudence. The current momentum is solid and targets a Mean Resistance of 4515. Traders expect this momentum to ultimately lead to a retest of our completed Inner Index Rally 4590 on July 27, 2023. However, it's worth noting that the market can be quite reactive, and sudden fluctuations in either direction may occur. As such, traders should remain vigilant and have a sound strategy in place to deal with unexpected market movements.
Comments
r88ave
Looking exhausted from epic rise this week. Downtrend next week?
TradeSelecter
@r88ave, See my ''Daily Chart Analysis For the Week of Nov 17, 2023''
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