This stock market is turning out to be more robo controlled then human controlled. The volume has declining and lots of unusual spikes are observed at the open and closing.
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| Unusual spike in Dow at the open on Friday |
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| Unusual spike in Dow jones at the close on Friday |
On Friday, Dow, S&P500 and Nasdaq entered bearish zone multiple time i.e. close to breaking 200 ma. But everytime, it broke or closed near 200 ma average athere was big spike which kept moving stock higher.
Weekly Outlook for S&P500:
S&P500 is expected to be in the range of 1420 to 1396 level next week. (Sell off)
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| S&P500 closed in the bullish zone on Friday and it is expected to open flat on Monday. |
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| As seen in the chart, S&P500 has managed to jump above Pink line (200 ma) resistance everytime it broke the resistance level. Same is true for Dow jones and Nasdaq. |
S&P500 is expected to be in the range of 1420 to 1396 level next week. (Sell off)
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| S&P500 expected to be in the range of 1420 to 1396 next week |
More chart analysis coming up
Dow Jones Industrial Average: is 13281 - 13129 range. (Sell off)
Nasdaq: 3076 -2996 range ( Sell off)
Volatility Index VIX: 13.29 - 15.34 (Rise)
Next major event:
Is Stock market Crash possible next week ? The answer is NO
Dow needs to break 12841 followed by 12,454 and the most important 10795.
S&P500 needs to break 1360 followed by 1308 and the most important 1145.
Nasdaq needs to break 2938 followed by 2812 and the most important 2357.
Dow Jones Industrial Average: is 13281 - 13129 range. (Sell off)
Nasdaq: 3076 -2996 range ( Sell off)
Volatility Index VIX: 13.29 - 15.34 (Rise)
Next major event:
Is Stock market Crash possible next week ? The answer is NO
Dow needs to break 12841 followed by 12,454 and the most important 10795.
S&P500 needs to break 1360 followed by 1308 and the most important 1145.
Nasdaq needs to break 2938 followed by 2812 and the most important 2357.
