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G20 induced Surge5
The G20 summit is done, and we now have the short-term catalyst to push $SPX $NDX $RUT into Surge5. In addition to the revised trade talks, we have fresh money being put to work in mutual funds since it’s the start of the month, as well as the start of a quarter. This is also a light week in terms of news, and a short week because Thursday is a holiday. Lots of traders may take a long weekend starting Thursday, so trading volume will be quite light at the end of the week.
Taken altogether, there is a very good chance that Monday will be the start of Surge5, and Surge5 can rise quite high for $SPX $NDX $RUT. See below for potential support and resistance levels.
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$SPX $NDX $RUT support & resistance zones during Surge5
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