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Published on Nov 4, 2016
The
S&P 500 initially fell on Friday but turned around to form a
slightly positive candle. The 2100 level above is resistance, but I
think if we can break above there we will probably then try to reach
towards the 2120 handle above. On the other hand, if we break down below
the bottom of the range for the Friday session that could be a negative
sign. However, what you have to keep in mind is that the US
presidential election is tomorrow, so having said that it’s very likely
that we will continue to sit in this general vicinity and it will be
very difficult to trade at this point in time. However, any type of
shock over the weekend could send the market in one direction or the
other.
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