September 6th – S&P500 and DJIA Trading Levels - Forex News by FX Leaders

September 6th – S&P500 and DJIA Trading Levels

Posted Wednesday, September 6, 2017 by
Arslan Butt • 1 min read

Looking at the fundamentals, none of the economic events have enough potential to shake U.S. equities. The ongoing geopolitical tensions with North Korea, especially, after they threatened to conduct a new missile test on September 9th, putting the U.S. and its allies in a position to respond by shooting the missile down. This will surely impact the global stock markets.

In order to cope up with this scenario and trading before September 9th, I’m sharing new trading levels for the week ahead.

S&P 500 – SPX500- Trading Levels

Support            Resistance

S1: 2453             R1: 2476

S2: 2431            R2: 2490

S3: 2317            R3: 2513

Key Trading Level: $2458

DJIA – US30 – Trading Levels

Support             Resistance   

S1: 21736            R1: 22279

S2: 21643           R2: 22129

S3: 21493           R3: 22036

Key Trading Level: $21886

The best solution to avoid uncertainty is to take intraday trades only, rather than opening swing positions.

Good luck!

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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