SPX - Three weeks to go to election. Pretty amazing price action this week. After a scary push down on Tuesday. Wednesday, Thursday and Friday did nothing but go up the rest of the week.
SPX is due for some consolidation but all indication is SPX is going to have a big October including a test of all time highs and beyond.
3425 is a key level to hold on any pullbacks. If SPX can get over 3486 it opens up 3528 and 3579 above. 3486 is the final key resistance before 3600+.
Below 3425 is 3411 and 3389. If SPX loses 3425 look for longer term consolidation or sideways range bound action into the election.
SPX was stronger than NAS. It reached it's key resistance level at 3486, NAS is still under this level. BOTH NAS and SPX will have to clear their key resistance levels to test all time highs.
Avoid the noise of why the market is going up or why it can't go higher. Let go of your own biases. The price action is telling us it is going to test all time highs. If this changes we will change with it but don't let bias or fear hold you back from the opportunity that is currently being presented.
SPX is due for some consolidation but all indication is SPX is going to have a big October including a test of all time highs and beyond.
3425 is a key level to hold on any pullbacks. If SPX can get over 3486 it opens up 3528 and 3579 above. 3486 is the final key resistance before 3600+.
Below 3425 is 3411 and 3389. If SPX loses 3425 look for longer term consolidation or sideways range bound action into the election.
SPX was stronger than NAS. It reached it's key resistance level at 3486, NAS is still under this level. BOTH NAS and SPX will have to clear their key resistance levels to test all time highs.
Avoid the noise of why the market is going up or why it can't go higher. Let go of your own biases. The price action is telling us it is going to test all time highs. If this changes we will change with it but don't let bias or fear hold you back from the opportunity that is currently being presented.