Stock exchange news. After another correction, last week S&P500 future showed steady growth, not being able to consolidate below its 200-day average:
The future fought the week before last resistance (1290.00); then there was additional purchase at the levels of 1302.75 and 1315.50:
after which a real breakout happened:
Traders of Futures Trade and Stock Exchange Department of Masterforex-V Academy admit that last week’s volume level of 1315.50 will currently serve as a strong support during downward movement, whereas the future’s upward movement is restricted by 1350.00 level of resistance.
Only the sales lower than 1290.00 can be taken seriously.
Despite the long-expected breakout, keeping average and long-term positions, from the point of view of current situation with US national debt, is still unsafe. However, judging by the fact that, according to Bloomberg agency’s claims, funds have considerably lowered long-term positions of US raw commodities goods, free spare cash has entered the market, which is capable of moving it upward again...
