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The State of the Trend

Just like last week and the weeks before, the trends of the three main US indices (DJIA, NDX and SPX) remain up in all three time frames - daily, weekly and monthly. This week, however, brought the long awaited breakout above monthly and weekly resistance, and we'll focus on the next likely targets.

For the weekly SPX our weekly target is 1450:

SPX Weekly

While for the Q's our target is 70:

QQQ Weekly

As usual, we continue to keep a close eye on the trend indicator and pivot line (courtesy of OddsTrader apps) for signs of trouble ahead.

The important levels to watch are 1395 for daily SPX:

SPX Daily

and 1370 for the weekly:

SPX Eekly

 

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