SPX500 Gap Trap Post-Nvidia
The S&P 500 rebounded off confluent support last week at 4343 and the focus is on this recovery within the confines of the July downtrend. the post-Nvidia earnings gap was quickly filled today with Jackson Hole on tap. . .
Initial resistance eyed at 4471 backed closely by 4503- rallies should be limited to this threshold IF price is heading lower here. Ultimately, a breach / close above the yearly high-day close at 4537 would be needed to mark resumption of the broader uptrend.
Initial support now rests at the August low-day close at 4369 with a close below 4343 needed to mark resumption towards 4296-4305 (38.2% retracement / August low-day close)- look for a larger reaction there IF reached.
Watch the weekly close here.
Initial resistance eyed at 4471 backed closely by 4503- rallies should be limited to this threshold IF price is heading lower here. Ultimately, a breach / close above the yearly high-day close at 4537 would be needed to mark resumption of the broader uptrend.
Initial support now rests at the August low-day close at 4369 with a close below 4343 needed to mark resumption towards 4296-4305 (38.2% retracement / August low-day close)- look for a larger reaction there IF reached.
Watch the weekly close here.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.