FxWirePro
Short

S&P 500 breaks major support 2067, good to sell on rallies

INDEX:INX   S&P 500 Index
219 3 10
S&P 500             has broken trend line support (2078) and also short term support 2067 (May 6th low). It confirms short term weakness, a decline till 2039 (Mar 11th low) is possible.

Short term trend reversal can happen only above 2100.
Major support is around 2053 and any two consecutive daily close below that level will drag the index till 2000 level.

It is good to sell on rallies around 2075-80 with SL around 2100 for TP of 2039/1980
Bread and butter ... but french cuisine is delightful!
I agree in your chart it shows what happen - but nothing is really coming as a surprising - it happen yesterday!
But what is to expect now... and targets...would be much more interesting to have your comment on otherwise many are still left in the dark of what to come.
What is to com????
Why is 2067 important to you... now that you are mentioning it specific? Isn't the break of the lower trendline much more important...or is it?

Best regards @BLawrenceM
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FxWirePro PRO WallStScalper
@BLawrenceM If u check in the daily chart 2067 is low formed on May 6th and from that i t has recovered till 2134.5. From that high 2134 it declined till 2072 and went up to 2115. Then from 2115 it has declined till 2072 and jumped till 2129. After a long time it has broken 2067 level. One more thing i forget to mention 2053 is 200 day MA and close below will drag the index further down till 2039/2000
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Okay... still not really sure why you think 2067 is more important than 2072.
Isn't the 2072 dbl bottom much more important?
It seems so cos it's also where you have attached your trendline and where it makes a dbl touch? Doesn't that argue for a more important area?
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