The market is kind of in a range, 200 day Moving average (yellow line ) setting the upside resistance for now.200 week Ma(yellow line in the weekly chart) is roughly setting downside support for now.
Nothing much to mention. A decisive break to the upside looks unlikely, and the momentum indicators are converging all to the sell side. Below is the daily and weekly graphs of sp daily index.
daily graph:
weekly graph:
Finally i bought more gold for the long term, and now i m watching the market action, to get out gradually in case the sell off continues below 1520s.Below is the weekly graph of gold:
The coming month , I will be watching the indicators closely to short the index.Happy holidays!
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