Pullback Coming?

With the federal budget battle continuing and a potential government shut down, traders will most likely lighten up their positions going into the weekend to avoid potential ambush on Monday.

Here are some hourly intraday price charts highlighting some possible near term support levels for the SP500, Nasdaq 100 and the DJIA if a pullback occurs. Until some major support is broken or a climatic top has been formed, the intermediate trend remains to be up.

Note: The moving averages on the chart are 5 days SMA & 5 days EMA. Notice how they are flatten out and appear to be rolling over with prices moving beneath them.


SP500 hourly:




Nasdaq 100 hourly:




DJIA hourly: