Today it will be understood whether Wall Street will initiate a retracement of the stock markets-proiezionidiborsa.it
Today Wall Street reopens its doors in a very particular graphic context. European equity markets, up for over a month and well over 10%, have accumulated some overbought on short-term oscillators. The American markets, on the other hand, with a more limited increase in the same period, do not show particular excesses. What to wait from now on? It may be possible to see two-speed markets. Today we will understand if Wall Street will initiate a retracement of the stock markets.
The weekly scenario
Expectations are for a bullish week. The first two trading daysmaximum the first hours of Wednesday could lead to a retracementto then leave room for a new increase. If this movement remains confined within certain levels, there will be all the conditions to restart upwards.
We proceed step by step.
The trading session of 13 January closed on Wall Street with a further rise and at the following prices:
Dow Jones
34,302.61
Nasdaq C.
11,079.16
S&P 500
3,999.09.
At the moment, the US equity indices continue to show a solid short-term trend and without excesses. Very different graphic situation on the European markets. So how to adjust? We can only go and review what has happened in other similar contexts.
Wall Street could command the cards of the game-proiezionidiborsa.it
Will Wall Street initiate a retracement in stock markets? The levels to monitor
The most important things to do in moments of indecision are the things that should always be done. You have to monitor the support and resistance levels. Even if oscillators have a certain value, they have a “limited predictive” potential. Indeed, they can highlight a state and stay in it without leading to a trend change. Furthermore, this state could also return without leading to a trend change.
The oscillators do not always lead to a change in trend-proiezionidiborsa.it
We will therefore continue to focus on support levels to monitor on a day-to-day basis. Here are the ones to watch out for tomorrow:
Dow Jones
33,792
Nasdaq C.
10,787
S&P 500
3,937.
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