August 19, 2024

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Stock Market At Resistance

Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

• The chart shows that the stock market touched the low band of the support zone during the carry trade related drop.
• The chart shows that the stock market has aggressively rebounded after touching the low band of the support zone.
• The chart shows that the stock market is now touching the low band of the resistance zone.