Equity Indices Weekly (30 Sep ’17)

Investors remain cautious of SPX gainsExtending gains beyond the psychological barrier at 2500.

Investors are cautiously Positive.

Overstretched studies and a rising wedge suggest gains towards the 2550/60~ (123.6%) Fibonacci projection to prove difficult to sustain.

A close below 2400/20~ is needed to confirm a fresh bear trend.

Bullish background readings are flattening.

 

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