The index of S&P 500 has now planned to take out most of its present advantages yesterday, as they have increased the time period of their trend going down which actually planned for a shorter amount of time. The index was decreased to 1.2% as of on Wednesday’s ad according to the price charged and then it was gained back that is the price level of 4,300. Meanwhile, in the previous week, the entire market went down since the 20th of July and approximately has reached the lowest point of 4,305.91.
S&P 500 has now reached a total point of 239.9 in which also 5.28% were gone down completely as of September 2 and even the record was up to 4,545.85. As per yesterday’s low which is calculated on a daily basis which on an approx of 4,306 points. However the next morning it is expected that the market opens at a higher rate which is on average to be opening at a rate of 0.3-0.4% higher and there may be a short-term loss in the process as well.
The closest important level of support of the wider index of the stock market is marked at 4,30 as mentioned by the local The upcoming support was at 4,250. Meanwhile on another side the, level of resistance was market at a range of from,445 to 4,455, as mentioned by the recent local.
S&P 500 Below the Medium-Term and Up Trend Line
The index of S&P 500 is now planning to trade on below its most of the year-long trend line which was upward. The closest important support level of the medium-term will be at the range from 4,200 to 4,300, as can be seen in the chart that is published weekly:
Does Dow Jones have any clue about all the local trends that happened previously?
Recently it was seen Dow Jones Average chart for Industrial purpose. At the beginning of September, the index of blue-chip broke, and it was decreased to a 2 monthly rising trend which further downward or we can say the reversed pattern.
However last week this trend was seen to be increasing and going higher starting at 33,600 to a price trend went up to almost 35,000. However, since Monday, the trend has been decreasing to the local low once again, as seen by the chart published daily:
Does Apple wish to stay at just as a Support System?
The stock of Apple was also being weighed on an average rate of 6.1% in the index of S&P 500, so this has become an important part of the entire wider stock market. Since the beginning of September, the trend level has been moving down from the highest record.
Recently the stock was also on sale to the earlier local lows with the price level of $142. It now acts as a being on the level of support, it overall till now in a do or die situation.
Since Tuesday there has been facing a short-term rally which is started by the FOMC of Wednesday’s release of Monetary Policy. But this rally was a correction done for upward also included in the decreased trend and the index of S&P 500 of the September mid and short-period consolidation made it for a shorter time frame of the handling level. The market even ended down to its present local. There might be a short-period part at that support level.
As of now, there is no sign of agreed positive signs seen so far. Moreover, in this situation, the perspective seems less favorable as per the situation at present and no other part of the trend is are as of now justified.
Here’s how the recent breakdown looks:
S&P 500 recently received its previous lower trend back yesterday and it also might be acting as a short-period level of support.
The overall calculated short position can be seen close right even way above the beginning of the actual money market’s session for trade.
Moreover, there is still a more expected decreased pressure, even an entire correction up to the level of from 4,200 to 4,250.