Dow And S&P 500 Incline Again
ICN.com | Sep 03, 2015 05:52AM ET
Dow Jones:
Dow has inclined again after finding some kind of support at 16100.00 zone, but it is currently approaching 38.2% Fibonacci level as seen on the provided daily chart.
Technical indicators show that, the bearish trend didn’t change according to ADX, while RSI is neutral; thereby, we will be neutral until the chart presents an actionable setup to pinpoint the next move.
A break below 16250.00 will be a negative sign, while coming above 16500.00 will be a bullish sign.
Support: 16250.00-16120.0016000
Resistance:16400.00-16550.00-16680.00
Direction: Sideways
SP500:
SP 500 has inclined again above 38.2% Fibonacci retracement, but momentum technical indicators remains neutral.
As far as 50% Fibonacci at 1943.00 holds, the neutrality will dominate the situation.
A break below 1930.00 will bring the bearishness back into focus.
Support: 1920.00-1850.00-1800.00
Resistance: 1980.00- 2000.00-2032.00
Direction: Sideways
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