S&P500 overview

Market Leader informed

On Friday S&P500 completed a bullish wave, which is expected to be followed by either an increase in the wave level or a trend reversal.

According to the experts from the Department of studying Masterforex-V trading system , in order to continue the uptrend the price will need to retrace and go further up for the “Moment of Truth” with breaking through the peak at 1224.01. In order to develop the bearish correction into a downtrend the price will need getting over the MF pivot at 1169.02, going for the “Moment of Truth” and forming a downward FZR*.

Resistance levels:

1368,60=76%MN+176.%а(С)D1+300.0%AD1

1344,94=123.6%W1+276.4%AD1+161.8%а(С)D1

1287.81=111.8%AW1+223.6%AD1+123.6%а(С)D1

1232.58=61.8%MN+188.2%AD1

 

 

Support levels:

pivot=1169,92

This week’s key news that can have an impact on market dynamics (USA - GMT):

Nov 15^th

13:30     - Retail Sales

13:30     - Empire Manufacturing

15:00     - Business Inventories

Nov 16^th

13:30     - PPI

14:00     - Net Long-term TIC Flows

14:15     - Industrial Production

Nov 17^th

13:30     - Building Permits

13:30     - Housing Starts

13:30     - CPI

Nov 18^th

13:30     - Jobless claims

15:00     - Philadelphia Fed Manufacturing Index

15:00     - Leading Indicators

Nov 19^th

10:15      - Federal Reserve Chairman Bernanke speaks at the ECB Central Banking Conference

 

 

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