The US 100 stock index (cash) is calling new all-time highs ahead of the Nonfarm payrolls report due later today as the price has yet to reach the edge of the overbought zone in the daily chart; the RSI has yet to peak above 70 and the Stochastics keep strengthening towards the 80 level.

The next stop could be near the 10,650 level taken from the 161.8% Fibonacci extension of the latest negative correction (from 10,346 to 9,820).

Alternatively, the index could retest the blue Kijun-sen line around 9,820 which stood as a crucial support to downside corrections this month.  A successful violation at this point could generate additional losses towards the 50-day simple moving average (SMA) around 9,520 and the 9,385 barrier. Beneath the latter, the 9,155 mark might retry to defend the market.

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In brief, the US 100 stock index is expected to unlock new record highs in the short-term, likely around 10,650. 

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