On the 4-hour chart, the S&P 500 broad-spectrum index formed a triangle. If the price manages to consolidate above the level of 2992.7, the next target will be the level of 3022.5.
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15.10.2019 - 09.10.2019
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is leaving the overbought zone. The Composite is testing from above its longer MA.
On the 4-hour chart, the instrument is trading above the upper line of the Bollinger Bands. The price remains above its moving averages that start turning up. The RSI is approaching the border of the overbought zone. The Composite is testing its strong resistance.
On the H4 chart, a lateral trend is forming. The instrument is moving within a corridor formed by the boundaries of Bollinger Bands. The indicator cloud is narrowed. MACD histogram is in the negative area, near the zero level. Its volumes are minimal and the signal line is moving horizontally along the zero level, without giving a clear signal to enter the market. Stochastic is in the neutral zone, and the lines of the oscillator are directed downwards. The sell signal remains.
On the 4-hour chart, the instrument consolidated above the MA of Bollinger bands. The indicator reverses sideways, and the price range remains limited, which indicates the continuation of the correction dynamics. The MACD histogram is being corrected at the zero level, a signal for opening positions is not formed. Stochastic is approaching the overbought zone; a strong sell signal can be formed within 1–2 days.