$SPX - Support at the 20DMA

SmartReversals
10-24

$.SPX(.SPX)$ - Support at the 20DMA

The daily candle isn't a bullish reversal one, but the 4H timeframe does suggest so. $Tesla Motors(TSLA)$ Jumped as expected🎯, and it will influence the market tomorrow, so the odds for a bounce in SPX and $NASDAQ 100(NDX)$ based on the 4H chart are significant.

The week is still expected to close in the red or with a doji in the best case scenario.

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Early, SPX - McClellan Oscillator

Mentioned yesterday in the SPX post that breadth deteriorated in a significant way, the McClellan Oscillator moved down by -81%. It will be interesting when the pullback comes, this oscillator is already at -34, and oversold levels begin at -70.

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Take Profit as S&P Hits 5800 or Hold Till 6000?
As the stock market hits record highs more than 40 times this year, there are concerns that history might repeat itself and another financial crisis could occur. ---------------- Will S&P 500 hit 6000 by year-end as institutions predict? Would you take profit and stay cautious ahead or hold till the year-end?
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