Wednesday 30 September 2020

Holding m/t bullish





The SPX broke a new historic high of 3588, but swung to 3209, and settling -137pts (3.9%) to 3363. The September candle leans to s/t bullish exhaustion. Primary downside target are the low 3100s, where the 200dma is lurking.

Considering the likely election outcome, and further stimulus, the m/t bullish trend could be expected to continue into early 2021.