The S&P 500 broad spectrum index continues to trade within the upward channel with support and resistance levels at 3070.8 and 3101.0, respectively.
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15.11.2019 - 09.11.2019
The Nasdaq index is slightly reduced. The closest support level is 8198.3 but the uptrend is still in force.
On the H4 chart, a lateral trend is forming; the instrument has corrected to the middle border of Bollinger Bands, the indicator cloud is expanding. MACD histogram is in the negative zone, the signal line crosses the zero line from above, forming a signal to open short positions. Stochastic is located on the border of the neutral and overbought zones, the oscillator's lines are directed up; the signal to open long positions is preserved.
On the daily chart, the price rose above 23125.00 ([5/8]) but could not break much higher and began the correction, which can continue to 22812.50 ([5/8] H4, the middle line of Bollinger bands), 22500.00 ([4/8]), 22180.50 ([–2/8] H4). The key “bullish” level is 23750.00 ([6/8]). If the price consolidates above it, the first growth target will be the level of 24375.00 ([7/8]).