| Sunday Evening 8 October 2017 Financial Freedom HQ |
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In lieu of a precap this week, I thought I would take a look at the big 3... from the forest perspective.
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DJIA Like the other major stock indices, the Dow has gone parabolic. There are minor support levels at 22,200 and 20,000. Major support comes in between 18,600 and 18,800 as that's where the rising trendline, previous highs and horizontal support come together. |
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S&P 500 The Spooz have multiple support levels below including minor support at 2500 and the more major support zone between 2200 and 2000. In the meantime, A break of the more vertical trendline will provide an early indication of a possible pullback. |
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Nasdaq 100 [QQQ] Since breaking the all time high from way back in 2000 the Qs have only accelerated. It will pull back... eventually. When that happens, watch how price trades around the support area from $118 to $123.
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| So what's the upshot? Trend remains higher... But there are cracks.
Beware.
Hope it helps... Enjoy the remainder of your evening.
Stay simple.
KIS,
The Trader
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