SPX is at MOB (Make or Break) double channel support at the 10/4L.
(1 day after the projected short term 10/1L).
Below this double channel support opens the door to much lower prices.
Next Time CIT (Change in Trend) to watch 10/6-7:
10/6 Geometric.
10/5-7 Bitcoin.
10/6 Pluto Direct.
10/7 start 9 days of MD.
10/7-8 Midpoint MeR&D.
Plenty of volatility directly ahead.
Trading in Stocks, ETF, Options and Futures involve risks. Trade at your own Risk. Do your own homework. The contents of this blog are for general information and educational purposes only and should not be construed as an investment advice strategy. Past performance is no guarantee of future results.
Recommended Content
Editors’ Picks
EUR/USD stays in positive territory near 1.0650
EUR/USD clings to modest daily gains at around 1.0650 in the American session on Wednesday. The US Dollar struggles to gather strength amid a modest improvement seen in risk mood and helps the pair hold its ground.
GBP/USD stabilizes at around 1.2450 after UK inflation data
GBP/USD consolidates its daily gains near 1.2450 after recovering toward 1.2500 with the immediate reaction to stronger-than-expected inflation data from the UK. The renewed US Dollar weakness also helps the pair hold its ground.
Gold eases despite risk-off mood
Gold trades in a relatively tight range near $2,390 in the second half of the day on Wednesday. In the absence of high-tier data releases, investors keep a close eye on headlines surrounding the Iran-Israel conflict.
XRP tests $0.50 resistance after Ripple CLO clarifies that no pretrial conference took place with SEC
XRP is stuck below $0.50 resistance after failing to close above this level since Monday. Ripple CLO Stuart Alderoty said late Tuesday there was no pretrial conference since the SEC dropped charges against executives.
World economy: To cut or not to cut (simultaneously)?
US inflation March figure, again higher than expected, put an end to the scenario of a simultaneous first rate cut by the Fed, the ECB, and the BoE in June.