S&P 500 and NASDAQ 100 Forecast September 9, 2020

by birtanpublished on September 29, 2020

from daily forex this is chris taking a look at the indices in the united states and as you can see the s p 500 has broken down pretty significantly during the trading session as we continue to see a lot of noise we

Are testing the 50-day ema so that's worth paying attention to so we could rally from there but quite frankly i would not jump in quickly i would jump in very slowly if we break down below the 50-day ema

And um we are closing towards the bottom part of the candlestick so that typically means you're gonna see some uh follow-through i think 3200 is a much more interesting place to get long same

Thing over here in the nasdaq 100 closing at the very bottom we actually crack the 50-day ema i'd be a buyer at 10 um if we take out the candlestick from the trading session it might be a buyer

There as well i think you need to get out of the way here but if you are going to try to catch this you're going to have to do it in very small increments this is an area that

Could be supported don't get me wrong but this is the froth coming out of the handful of stocks that everybody's been buying so this is needed volume did pick up but this is not enough to have me thinking

This is a capitulation um i think we have further to go you

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