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Sergey Golubev, 2017.05.18 13:25
FTSE 100 and the S&P 500 Turns Lower (based on the article)
"Yesterday, global stocks were shaken on political upheaval in Washington. The FTSE 100 managed to escape yesterday’s sessions relatively unscathed, but it wasn’t until the afternoon session in the U.S. (when London was closed) that the S&P 500 took another big leg lower to close near the lows of the day. We saw this spill-over into Asia overnight and Europe is under a bit of pressure at the time of this writing."
"Given the lines influence as resistance since January will it now have an important impact as support, or will we see another event like in March where it traded above for a couple of days before retreating back below? The difference between then and now and perhaps the difference-maker, is that in March the footsie started wobbling as soon as it broke above; while this time there was a clean break with momentum. A lot depends on how bad things get in the U.S. – whether it’s a short-lived reaction to turmoil surrounding the Trump administration or the beginning of a significant decline. The thinking on this end is there is at least a little more weakness in store, but not sure just yet it turns into a rout."
"Keeping it simple and consistent in approach, we’ll react to price action as per usual. On a drop into old resistance now turned potentially new support (~7400), how the market responds will be the tell. With lesser importance, the April trend-line is also in the vicinity. If buyers step in, then we may have a successful test on our hands; but drop on through, then we could see a larger decline unfold and the recent surge will have turned out to be another false breakout."
Sergey Golubev, 2017.05.20 10:18
Why The 200-Day Moving Average Is A Good Worry Signal (based on the article)
Sergey Golubev, 2017.05.24 15:19
S&P 500 Ahead Of FOMC Meeting Minutes (based on the article)
Daily price is on bullish ranging within 2400 psy resistance level and 2354 bearish reversal support level. If the price breaks 2400 to above so the next resistance at 2404 will be the key for the bullish trend to be continuing.