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  1. #1
    Legendry Member Michael Hodges's Avatar

    SPX setting up for long term bounce !!!

    The SPX is sitting on a strong support zone and setting up for a longer term bounce. 
    SPX setting up for long term bounce
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  2. #2
    Legendry Member milos's Avatar
    The market is quite volatile last week after disappointing data from the labor market in the US. Economic results published has raised concerns among investors that the Fed will son begin to reduce the monetary easing program.

  3. #3
    Legendry Member Michael Hodges's Avatar
    data is expected to be good this week. Today's retail sales was a little weird but good in the end I think. Today is not as important for data as the next few, tomorrow is PPI and Mortgage Index, Thursday is real big on data with jobless claims, CPI, TIC Flows, PHilly Fed and housing index, Friday is also a biggie with housing starts, building permits, and Michigan Sentiment. I think tapering concern is priced in, when it happens there may be a correction but the long term trend will remain up. The global economy is improving.

  4. #4
    Legendry Member milos's Avatar
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    Investors with care expected report on retail sales in the US.It was published positive economic data on retail sales in the US. Atlanta Fed Presidents Dennis Lochart gave a speech. In a recent interview he confirmed that the expected decrease in program of monetary easing in September. At the closing of the US trading session the S&P500 rose by 0.28%.
    Key levels
    1770 resistance
    1735 resistance
    1694 last
    1613 support
    1535 support

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