It Looks that the Congress Just Passed a Bill After Close > No Shutdown

Now the SPX 200 dma line now looks like a magnet, the chance is very high for SPX to visit it before the month ends ...................

Edited by redfoliage2, 06 October 2021 - 09:17 AM.

Today the market was all over the place, driven by the development in the Congress on the debt ceiling talks.  ST market is totally news-driven and means nothing technically .............................

Edited by redfoliage2, 06 October 2021 - 03:12 PM.

Thanks to the positive development on debt ceiling issue SPX now is back above the neckline of the H&S, so the bearish pattern is nullified at least for now.  We should see SPX back testing its 50 dma as soon as tomorrow......................

Edited by redfoliage2, 07 October 2021 - 12:50 PM.