Guy S. Ortmann, CMT | Oct 26, 2020 10:17AM ET
The major equity indexes closed mostly higher Friday except for the DJI posting a minor loss. Internals were positive on the NYSE and NASDAQ as trading volumes declined from the prior session. No technical events of import were generated on the charts although some support and resistance levels were tested. Most remain in neutral near-term trends except for two that are positive. Breadth remains neutral as well. There was little to no change on the data front that is also generally neutral, while valuation and some psychology levels are still rather cautionary. As such, we see no shift in the evidence to cause a change in our current near-term “neutral” outlook for the equity markets.
On the charts, the bulk of the equity indexes closed higher Friday except for the DJI posting a loss.
The data is little changed.
In conclusion, we have yet to see enough evidence presented to alter our current near-term “neutral” outlook for the equity markets.
SPX: HVS3,419/3,586
DJI: HVS28,216/29,148
COMPQX: HVS11,367/12,065
NDX: HVS11,563/12,1962
DJT: 11,403/NA MID: HVS1,966/HVR2,024
RTY: HVS1,600/1,650 VALUA: HVS6,4325/HVR6,747
/h2
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.