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S&P 500 INDEX has formed triangle formation in daily chart.


S&P 500 INDEX


  • Index has formed triangle formation in daily chart, this indicates once index comes out from its formation then sharp movement is expecting.
  • Stock is also finding 200 days moving average support, as long as holds above bulls will be favored, bears will be favored once it holds below 200 DMA.
  • On down side S&P 500 Index will find strong trend line support around 1988 & 1972. Close Watch.

DOW JONES closed below its important support zone.


DOW JONES INDUSTRIAL AVERAGE


  • Index has formed triangle formation in daily charts, but now index has closed below it formation , this indicates as long as index holds below further weakness can be seen in coming days.
  • Dow Jones has also closed and holding below 200 days moving average this indicates bears will be favored.
  • As per trend analysis Down will now find strong trend line support around 17067.

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