This has been indecisive since a few days. It could have been settled settled on Monday after the fake news of Moderna vaccine potential.
The Bulls took the ascend and broke the 0.618 fib retracement resistance, the next one being 3140.
But the bears are fiercely fighting back with the help of the 100-200 MA and psychological resistance of 3000 and of course of the realistic and grim economic data...
Decisive day for this battle today as yesterday's close was at 2971, just 4 points shy of the 2975 100 days MA.
Employment numbers of today might settle this... noting:
- Bollinger bands are now very narrow (the narrower since Feb) and touching the upper one since a couple of days. That's a sign of a big move usually.
- The momentum is on the side of the bears
- Daily RSI is on the side of the bulls
The Bulls took the ascend and broke the 0.618 fib retracement resistance, the next one being 3140.
But the bears are fiercely fighting back with the help of the 100-200 MA and psychological resistance of 3000 and of course of the realistic and grim economic data...
Decisive day for this battle today as yesterday's close was at 2971, just 4 points shy of the 2975 100 days MA.
Employment numbers of today might settle this... noting:
- Bollinger bands are now very narrow (the narrower since Feb) and touching the upper one since a couple of days. That's a sign of a big move usually.
- The momentum is on the side of the bears
- Daily RSI is on the side of the bulls