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S&P 500 ‘Gravestone Doji’ Negated; Index Rallies Continue

Nov 1, 2021

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Friday maintained the nice type of indices. The did significantly properly because it lastly cleared the spike excessive and managed to register an accumulation day by the shut of enterprise. Technicals are web optimistic and the index is accelerating in its relative efficiency benefit to see indices. 

SPX Daily Chart

SPX Every day Chart

The maintained its breakout, albeit on lighter quantity, because it accelerated its acquire relative to each the S&P and NASDAQ.  This stays the lead index of the three.

COMPQ Daily Chart

COMPQ Every day Chart

The (through ) continues to be within the technique of difficult the ‘bull entice’ on combined technicals.  Thursday’s rally managed to recuperate a lot of the misplaced floor which following the ‘bull entice’, however it nonetheless wants just a little extra to complete the job.

IWM Daily Chart

IWM Every day Chart

The index to observe later at present is the . It rallied into converged resistance created from the 2021 assist trendline and horizontal resistance from its highs.

SOX Daily Chart

SOX Every day Chart

For the approaching week, we’ll wish to see the breakouts in Tech and Massive Caps consolidate with supporing breakouts within the Semiconductor and Russell 2000 index to comply with in fast haste. 

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