Non-Farm Payrolls (NFP), Bitcoin (BTC) & S&P 500 (SPX) – FinTwit Trends To Watch

SPX sector summary

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S&P500 Daily Chart

Chart prepared by Warren Venketas, IG

The daily SPX chart above shows resistance at the 4550.00 key horizontal level. Downward pressure could endure with bears eyeing the 4500.00 psychological handle while the Relative Strength Index (RSI) is growing its bearish bias as divergence (red) expands. Threatening bearish divergence is on the horizon but the NFP report may not be enough to spark the downturn just yet. More guidance by policy makers and COVID-19 is required before a directional bias can be established.

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