Targets of 17396.00 are almost done, as just a few pips separate Dow and the target.
Now, any opened positions since yesterday-for subscribers- could be closed, as the index has retraced from this important resistance where 88.6% Fibonacci exists.
RSI14 shows clear overbought case and that is why we need to be neutral and wait for reliable signals to enter the market.
A break above 17396.00 will extend the bullishness and will make us neglect the overbought signal on RSI.
Support: 17325.00-17250.00-17200.00
Resistance: 17396.00-17460.00-17500.00
Direction: Neutral
In accordance with yesterday’s bullish scenario, S&P 500 has moved to the upside after testing 2010.00 zones and it is now close to 2043.00 target.
Any opened positions since yesterday-for subscribers- could be closed, as we see overbought signs on RSI14.
All eyes should be on 2022.00 and 2010.00 to see whether SP will respond to RSI or not.
We will be neutral today, as intraday risk versus reward ratio is inappropriate.
Support: 2022.00-2010.00-2007.00
Resistance: 2043.00-2050.00-2066.00
Direction: Neutral