Ticker tape by TradingView

Want Trade Alerts?

See all of our entries, exits, and analysis. 
Use code READER for 25% OFF!
Join VIP

This Index Just Made A Big Move

10/14/2021

SPX500 climbed nearly 1% today after earnings beats in the bank sector and jobless claims came in under the expectations at only 293K. The Fed also said that they may start to taper as early as November now which would mean a decrease in the hundred-something billion dollars in asset purchases each month.

Our outlook

Good economic news from the past two weeks has relieved some of the pressure the markets have experienced from inflation fears to NFP. On a technical basis, however, the index just broke out of a falling channel and has come back from the lows of last week. This is good news for investors who have been worried about a continued stretch to the downside, so we may start to see some more buying to finish out the week.

Trade Setups

SPX500

SPX500 made a clear break out of a falling trend line on the 1D chart and is nearing resistance at the 50 DMA. A close above this falling trend line will be good for the index as it would indicate a larger move to the upside. Today's 1% move in the morning is a good sign already showing us that there is some momentum here. If price can't break above, we may see a retrace to around $4370.

want trade alerts sent to you?

Join The VIP Community!

Our entries, exits, & analysis
Live webinar coaching calls
Trading chatrooms
Strategy library
Use Code "READER" for $5 OFF!
Join Now

Need a Better Broker?

Need Trading Help? (FREE!)

Headlines That Will Make You Want To Invest In Crypto Right Now

10/26/2021 A string of articles have come out recently that will make you consider crypto and the potential around the emerging industry. Here are a few article headlines that I will summarize and explain why this is really important to the market as a whole. Tesla May Restart Crypto Transactions Again Several months ago, Tesla […]

Read More
Inflation: Why Now and Will it Increase?

Today I'll share some economic analysis on the CPI report and what to look for in order to tell if inflation will get worse. Lastly, I'll cover some ways that you can make an investment play on inflation. September CPI Report The Consumer Price Index report for September 2021 was published on October 12, 2021. […]

Read More
What Could Make Gold Shoot To $1830 This Week?

10/25/2021 Gold and crypto pairs have been on a tear recently due to several factors and one of them being inflation. Some analysts are calling for a prolonged run in demand for the precious metal and a $3000 per oz price in under a year. Our outlook I think that gold has been due for […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here

A1 Trading Company

A1 Trading Company is a financial services and media business founded in Atlanta, USA.
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram