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S&P 500 – prognosis via Dow Theory for calendar week 37/2015

Weekly chart:

After the price broke through the uptrend at 1980 points, the index can currently be seen as trendless. The reversal candle from the previous week does not do anything to change this either, since this reversal could not be confirmed. Particularly seeing as the price has now failed several times at the 20 location point line from the monthly chart. Possibly, today’s jobs data will bring movement into the market.

Chart1

Daily chart:

In this trend size, the downtrend can be clearly seen. The current correction came to an end at the 20 LP from the monthly chart. A beginning, new downwards movement was quickly picked up once more, which only indicates, however, that the correction is setting itself up more widely. Clear signals are lacking.

Chart2

Hourly chart:

The situation in the hourly chart is once again very inconsistent, meaning that we must assume that the current downtrend is still primary in nature. Before the jobs data is announced, an entry is not worth it here.

Chart3

I hope you will remain favorably disposed towards me and always remember: the journey is the reward!

All the best

Markus Gabel

Head of Sales/Trading

AgenaTrader/TradeEscort

AgenaTrader Trading Software

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Friday, 04 Sep, 2015 / 5:06

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