S&P500 Ranging
- From the CFTC COT Weekly Data, net positions remain negative at 2.4k. This shows weakness.
- From a technical perspective, weakness is showing with price ranging within resistance and support levels. If a bear breakout happens, the February 2020 pivot high will be exposed. If a bullish breakout happens, the 3516.5 resistance will be open for a test.
- From a fundamental perspective, stimulus negotiations are still on going with Nancy Pelosi saying that a deal is possible as they are making progress with the Secretary Mnuchin. However, the US elections weigh heavily on the US equity markets as it is a highly contested one. Analysts are expecting a blue wave which might mean more fiscal stimulus is on the way. I'm expecting volatility until the elections are concluded.
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.