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Indices Updates by Solid ECN
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[QUOTE="SOLIDECN, post: 214835, member: 80239"] [HEADING=1][JUSTIFY]S&P 500 - Local corrective trend continues[/JUSTIFY][/HEADING] [JUSTIFY]The American market significantly slowed down the dynamics in anticipation of the results of the Midterm elections to the US Congress, as well as data on inflation. The S&P 500 is currently correcting, trading at 3759. Based on the interim results of the voting, it is quite likely that different parties will control the Senate and the House of Representatives, which will create a so-called "political impasse". This may mean that the adoption of new legislative initiatives will be difficult, and, therefore, the likelihood of the final adoption of a bill to raise corporate taxes may be reduced, which is a positive signal for the stock market. [img]https://i.ibb.co/qCVDMC5/spx.png[/img] The index quotes continued the local corrective trend, more and more clearly forming the Flag pattern on the daily chart. [B]Support levels[/B]: 3700, 3570 | [B]Resistance levels[/B]: 3830, 4000[/JUSTIFY] [/QUOTE]
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