It looks like the S&P is “kissing” the underside of “Dual Resistance” for the first time in history. Does that mean the market is topping here? It is too soon to tell.
Here is the entire article: … … HERE
It looks like the S&P is “kissing” the underside of “Dual Resistance” for the first time in history. Does that mean the market is topping here? It is too soon to tell.
Here is the entire article: … … HERE
The VIX remains in the “High Volatility” range and reversed direction to return above 30. New coronavirus cases remain steady, above 20K/day, and another 2.6 million Americans filed for unemployment claims. [more]
We have updated our Seasonality Chart (presented at the end of this report) and made significant changes, including updating the beginning-and-end dates for the periods of seasonality strength, and adding a further ten industry sectors. We remain cautious towards the market and recommend defensive positions. Given the recent strong upward movements in stock prices, we would welcome over the summer months a lengthy consolidation period or a meaningful, but healthy, pull-back. [more]
The S&P 500 Index has recently backed off its all-time high of 3,027 and fallen below the psychologically important 3,000 level. Critical support levels are at 2,950 and 2,875. [more]
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