Equity Indices Weekly (28 Oct ’17)

US Equities SPX approaching strong Fibonacci barrierExtending gains within the rising channel as investors maintain a cautiously Positive stance.

Focus remains on 2600.

Just higher are the 2615~ (138.2%) Fibonacci projection of the 2016 rally and the 2620, (76.4%) projection of the 2011-2015 rally.

This area is expected to provide an initial barrier, as overbought studies begin to flatten.

A close below 2500 would add weight to sentiment and delay higher levels.

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