2019-10-11 15:18:59 | On The Fly: Weekly technical notes for S&P 500The S&P 500 (SPX) is set to end at the highs of the week at time of writing with price last at 2988.12. At that price the key resistance levels for the week ahead are in the range of 3000 to 3027.98, with the higher being the lifetime high for the index. With earnings season set to start, there will be fresh trading catalysts. The downside range for support is at 2950-2925. Moves below 2900 would be bearish and at the lower end of recent ranges. Most of the gains for the week are due to the larger push higher today. The best-performing sectors of the week were Technology (XLK). Industrials (XLI). Communications (XLC), and the Financials (XLF). At time of writing all sectors were in the green with Energy (XLE), Health Care (XLV), and Utilities (XLU) the under-performers. |
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