Scott Burrill - Market Notes

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Scott's notes
Scott's Market Notes

Levels for Wednesday

Oct 17, 2018

Equity Markets are digesting their across the board 2+% rallies.

Looking forward, it's a bit more foggy. Intermediate Trends remain down and more repair in price action is required; however, resumed short covering certainly could occur if kicked off by some extraneous news. 

While Equity Markets have captured their Weekly Magnets as seen below, as well as broader upward Levels, it is reasonable to expect, in the SP500 as an example, for the Magnet to be tested.

Today, focuswill be on the EIA Oil report and the release of the FOMC Minutes thisafternoon, in addition to the on-going geopolitical news.

 

Levels:

All the best,

 

Scott

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