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quantguy
Oct 8, 2021 10:22 AM

Stocks Price in Debt Ceiling Long

S&P 500 index of US listed sharesFXCM

Description

Stocks have gotten a lift from the debt ceiling news, however we are facing steep resistance from a cluster of levels in the mid 4400 handle, 4431 in particular. We are seeing a red triangle at this level confirming the resistance. Currently we are seeing support at 4389, as confirmed by a green triangle on the KRI. The Kovach OBV is strong, but has leveled off completely showing little or no conviction before the opening. If we do see a burst of momentum, we must first break 4431, then there is a vacuum zone to 4462. If we break down, 4364 should provide resistance.
Comments
Mihai_Iacob
Thanks for your post
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