US100 remains in a well-defined uptrend

hace 7 días

US100 remains in a well-defined uptrend

After the FOMC cut rates by 25 basis points and also sent a message that two more rate cuts could happen this year, all indices broke out in an uptrend.

US100 felt a surge at 23992 during the FOMC meeting as the market was unclear about what was going on and later rallied again.

Price tested the major support area near 23900 where buyers appeared stronger than before pushing the price higher from where US100 easily reached the first and second targets.

After any small pause, I think US100 can rise further to 24750 and 25000.

You may find more details in the chart!
Thank you and Good Luck!

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hace 7 días

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US100 Overview for the Next Days

Target Reached
US100 reached our target as expected, near 24750 in a clear way.

However, the trend remains bullish and the indices are well positioned to rise further.

We need to be careful because it is also the end of the month and we also have options expirations. According to the Options Expiration Calendar, on September 24th we have VIX - Weekly Expiration.

On September 30th we have "End of Month Options - Expires on Close End of Quarter Options - Expires on Close in Quarter Months (March, June, September and December)".

This should create a mess in the indices and probably even a big sell-off.