End of Day Technical Analysis Report for:
Technical Recommendation: Looking to re-enter Long.
► SP500: In yesterday’s report we wrote the following: “A pretty weak day with no discernable bounce into the close. This market feels very heavy and it will take something extraordinary to force new highs. It would seem that the path of least resistance is now to the downside with flurries of small bounces.” The same could be written today with the exception that there was a bounce of the day’s low. We can expect a short term, relief bounce before Friday’s NonFarm Payroll data.
Past performance should not be seen as an indication of future performance. Market and exchange rate movements may cause the value of your investment to rise or fall and an investor may not get back the amount invested.