Technically, S&P500 seems bullish but it seems to be overbought in the last week. As per our technical analysis, S&P500 shall gradually start dropping for the first half of week. A correction is expected around Tuesday followed by upward trend in the second half of the week.
You can short S&p500 @ 2078-2085 with s/l 2,110 for target 2,060 & then build long position at the lower levels in mid-week.
Details of Trading instruction for DOW JONES & NASDAQ :: Only For Members
In previous week, XOM (Exxon Mobil Corp) showed medium volatility and remained within pivot limits.
As it has broken the 1st resistance level and started to move down.In the following week the trend will be bearish till one day and then it will start to bull.
Make a long term long position between 84.2 to 84.8 as it is bit risky to trade before that level.
In previous week , apple fell and crossed 2nd resistance level.
As of now it has made a peak and shall start to fall again after crossing 3rd resistance.
You are advised to make a short position between 127 to 129.
Previously, ford moved within the pivot range and crossed 3rd support 3 times.In this week the initial trend is bearish.Hence it is advised to make a short position between 15.85 to 16.1 as it will strongly remain in deep regions.