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USA Stocks Market Outlook

trading date: November 08, 2016 – 

Bullish day with a wide gap up! The 200-day MA was tested Fri and now we are bouncing. The 100-day MA is the best next resistance.

Everything will depend on the election outcome: If Hillary wins we will muddle around until the Dec rate hike, instead a Trump win would spark selling and that would be great for trading (that is less likely now).

Resistance will lie at yesterday’s high at $213.19, followed by SMA100 level at $214.44 and then $215.32.

Support will lie at yesterday’s low at $211.30, followed by $209.60 and then SMA200 at $208.41.

spy08nov SPY daily chart on 1Option Platform

F-lab on StockTwits

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