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Sunday, September 10, 2017 4:46:14 PM
Weekend Analysis by Amateur Investors
By: Amateur Investors | September 9, 2017
The market appears to be waiting to see what happens with Hurricane Irma this weekend. At any rate the S&P 500 continues to hold support along its 100 Day Moving Average (green line) and upward trend line from the early 2016 low (purple line).
Meanwhile, as alluded to in the Mid Week Outlook, the S&P 500 still is exhibiting a possible Head and Shoulders pattern if it doesn't rise back above the 2480 level. For the Head and Shoulders pattern to work out the S&P 500 must break below Neckline support (black line) near the 2430 level. If the Neckline support area were to be broken then a drop back to the 200 Day Moving Average near 2370 would likely occur.
http://www.amateur-investors.com/AII_Weekend_AnalysisSep_9_17.htm
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https://investorshub.advfn.com/Market-Direction-and-Trends-26249/
By: Amateur Investors | September 9, 2017
The market appears to be waiting to see what happens with Hurricane Irma this weekend. At any rate the S&P 500 continues to hold support along its 100 Day Moving Average (green line) and upward trend line from the early 2016 low (purple line).
Meanwhile, as alluded to in the Mid Week Outlook, the S&P 500 still is exhibiting a possible Head and Shoulders pattern if it doesn't rise back above the 2480 level. For the Head and Shoulders pattern to work out the S&P 500 must break below Neckline support (black line) near the 2430 level. If the Neckline support area were to be broken then a drop back to the 200 Day Moving Average near 2370 would likely occur.
http://www.amateur-investors.com/AII_Weekend_AnalysisSep_9_17.htm
• DiscoverGold
Click on "In reply to", for Authors past commentaries
*** For Market Direction and Trends visit our board:
https://investorshub.advfn.com/Market-Direction-and-Trends-26249/
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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