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Today’s Trading Plan: Central Banks Keep the Market Unmovable
Thursday, October 6, 2016 6:24
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(Before It's News)
S&P 500 (SPX) yesterday managed to bounce following yesterday’s sell-off
SPX has a strong rising trend-line that goes back to the February lows and will be tested at 2139.
A lot of resistance overhead for the market between 2160 and 2190 on SPX.
Volume on SPDRs S&P 500 (SPY) dropped off dramatically yesterday and came in well below recent averages.
CBOE Market Volatility Index (VIX) dropped 4.7% yesterday down to 12.99. The VIX melt continues.
Crude (/CL) rallied hard yesterday, rising 2.3%. Today it is looking at another strong open with a move above the August highs.
The number of stocks trading above their 40-day moving average popped 16% yesterday to 47.7%
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