Alerts

S&P 500 and DJIA Look to Check Key Trendline, Mid-Time period Election Could also be Catalyst

Fairness Evaluation and Information

S&P 500 | Lifeless Cat Bounce?

DJIA | Trendline Help Again into Play

Worth

200DMA

RSI

IG Sentiment

Europe

FTSE 100

7094

7462

61

Combined

DAX

11518

12426

48

Combined

CAC 40

5102

5354

49

Combined

FTSE MIB

19390

21936

48

US

S&P 500

2711

2762

46

Bullish

DJIA

25164

25093

50

Combined

Nasdaq 100

6941

7130

43

Asia

Nikkei 225

21912

22431

44

Shanghai Composite

2676

3023

59

ASX 200

5849

6067

51

S&P 500 | Lifeless Cat Bounce?

The S&P 500 had made a modest restoration following assist on the rising trendline stemming from the 2018 low. Nevertheless, topside resistance within the type of the 200DMA held agency and in flip sees the index paring again the highs of the week. Buyers will probably be inserting a eager eye on the Mid-Time period elections which might see a bounce in volatility for fairness markets. Based mostly on latest polling knowledge and historic performances in Mid-Time period elections, the Republican celebration are prone to shedding the Decrease Home to the Democratic, which can place strain on US indices. Help within the S&P 500 is seen at 2690-2700, a break under raises scope for an additional check of the rising trendline. (Mid-Time period Election Preview)

S&P 500 Price Chart: Each day Time Body (Dec 2017Nov 2018)

S&P 500 and DJIA Look to Test Key Trendline, Mid-Term Election May be Catalyst

DJIA | Trendline Help Again into Play

Very similar to the S&P 500, the trendline assist is again into play for the Dow Jones following the rejection off the 100DMA, whereas the value had additionally been notably exhausted above the 50% Fibonacci Retracement. Sturdy progress within the US, alongside, wages rising at its quickest tempo since 2009 could stoke a extra optimistic Consumed its present evaluation on the US financial system and thus including strain on US fairness markets. Regardless of the restoration in fairness markets, sentiment stays fragile and dangers stay tilted to the draw back.

DJIA Worth Chart: Each day Time Body (Dec 2017 – Oct 2018)

S&P 500 and DJIA Look to Test Key Trendline, Mid-Term Election May be Catalyst

RESOURCES FOR FOREX & CFD TRADERS

Whether or not you’re a new or skilled dealer, we now have a number of sources out there that will help you; indicator for monitoring dealer sentiment, quarterly buying and selling forecasts, analytical and academic webinars held every day, buying and selling guides that will help you enhance buying and selling efficiency, and one particularly for many who are new to foreign exchange.

— Written by Justin McQueen, Market Analyst

To contact Justin, e-mail him at Justin.mcqueen@ig.com

Observe Justin on Twitter @JMcQueenFX


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