Stocks Monthly Forecast Oct 2016

Dow Jones: Bullish But Around Critical Resistance…

As long as 17780 support holds on a monthly closing basis, the Dow Jones index remains on the upside towards the 18440 levels, a halt is likely, but above 18440 would open 19280 next, further upside, resistance comes at the 20205 levels…On the downside, below 17780 faces a pullback risk towards the 16450 levels before the next rise.

stocks-monthly-forecast-oct-2016-us30  S&P 500: Sees Further Bullish Momentum…

As long as 2105 support holds on a monthly closing basis, the S&P 500 index remains on the upside towards the 2186 levels, we might see hesitation, but above 2186 would open 2290 next, further upside, resistance comes in the 2403 levels. On the downside, below 2105 sees a pullback risk towards the 2025 levels before the next rise…

stocks-monthly-forecast-oct-2016-spx500 Nikkei 225: Consolidates Below Resistance…

As long as 17140/17905 resistance holds on a monthly closing basis, the Nikkei 225 index remains on the downside towards the 15440 levels, a halt is likely but a cut would open 13390 next, we might see hesitation around this level, but a cut will turn the focus on the 10428 levels. On the upside, above 17905 faces a recovery risk towards the 19885/20965 levels…

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