Market Review on October 3, 2019
SPX500
Yesterday was predictable, since the publication of the report PMI (ISM) data which was again evident decline of the US economy c 49.1 to 47.8 while projected increase. This information provides an understanding of the fact that the economic downturn will impact negatively on the stock markets and, accordingly, on the SP500 price. New orders increased albeit at +0.1, but they are slowing down for the second month in a row. Rising prices of +3.7 indicates future inflation. On other key indicators continue to decline and the decline in stock market indices in this month is quite becomes an objective model.
static.wixstatic.com...0f8045fdb62c~mv2.png
Cumulative delta in futures on indices DowJones, SP500, NASDAQ is also in the downward trend and the signs for the beginning of growth is not visible.
static.wixstatic.com...f6d369bd0ac7~mv2.png
Price SP500 broke the weekly support around 2910 and monthly support of volatility in 2894 and continues to decline. Aggregate delta volumes
Exchange of NYSE + NASDAQ + AMEX also shows part of the decline in
Support and resistance zone (zone volatility)
Monthly volatility resistance ~ 3066
Weekly volatility resistance ~ 2999
Daily volatility resistance ~ 2895
Daily volatility support ~ 2854
Weekly volatility support ~ 2910
Monthly volatility support ~ 2894
static.wixstatic.com...497b4282bb16~mv2.png
Recommendation for today is to look for short positions in the region of 2890 - 2910 with the retention of a few days or even weeks.
SPX500
Yesterday was predictable, since the publication of the report PMI (ISM) data which was again evident decline of the US economy c 49.1 to 47.8 while projected increase. This information provides an understanding of the fact that the economic downturn will impact negatively on the stock markets and, accordingly, on the SP500 price. New orders increased albeit at +0.1, but they are slowing down for the second month in a row. Rising prices of +3.7 indicates future inflation. On other key indicators continue to decline and the decline in stock market indices in this month is quite becomes an objective model.
static.wixstatic.com...0f8045fdb62c~mv2.png
Cumulative delta in futures on indices DowJones, SP500, NASDAQ is also in the downward trend and the signs for the beginning of growth is not visible.
static.wixstatic.com...f6d369bd0ac7~mv2.png
Price SP500 broke the weekly support around 2910 and monthly support of volatility in 2894 and continues to decline. Aggregate delta volumes
Exchange of NYSE + NASDAQ + AMEX also shows part of the decline in
Support and resistance zone (zone volatility)
Monthly volatility resistance ~ 3066
Weekly volatility resistance ~ 2999
Daily volatility resistance ~ 2895
Daily volatility support ~ 2854
Weekly volatility support ~ 2910
Monthly volatility support ~ 2894
static.wixstatic.com...497b4282bb16~mv2.png
Recommendation for today is to look for short positions in the region of 2890 - 2910 with the retention of a few days or even weeks.
