Dow Jones And S&P 500 Futures: July 24, 2015
ICN.com | Jul 24, 2015 06:49AM ET
Dow Jones:
In accordance with our yesterday’s proposed bearish scenario, Dow has plummeted below 17690.00 levels, achieving targets for the bearish setup we sent to our subscribers.
Stability below moving averages is a very negative factor, while RSI14 and ADX have turned negative.
In result, we remain bearish on the index over intraday basis; noting that a break below 17650.00 will accelerate.
Support: 17620.00-17550.00-17500.00
Resistance: 1775.00.17805.00-17830.00
Direction: Down
S&P 500:
S&P 500 has moved bearishly, re-attacking the psychological support level of 2100.00. Bouncing off SMA50 is normal; however, candlesticks structures argue us to remain bearish over intraday basis.
A break below 2093.00 –next support- will accelerate and will assist technical indicators to present negative signals.
Anyway, the bearishness is favored for intraday traders.
Support: 2093.00- 2090.00-2083.00
Resistance: 2107.00- 2120.00-2126.00
Direction: Down
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