jmboyer1
Short

SPX (S&P 500) Resistance at Upper Trendline

INDEX:SPX   S&P 500 Index
127 0 1
Similar to previous post using SPY             , again upper trendline drawn from tops on S&P             hit then fail at upper trendline resistance. When S&P             hit resistance in late Dec             '13 it retreated then tried to penetrate the resistance yet again in mid-Jan, only to fail and fall back sharply. Likewise, its RSI failed to confirm the new high as well.
Similarly, S&P             hit upper trendline resistance on 9JUN14 then retreated and is now trying again, but seemingly failed yesterday (24JUN14). Similar to January's action, the RSI failed to confirm the new high. Today's action (25JUN14) shows snapback rally to trendline----kissing/hugging it yet failing to get above it. So, will S&P             action be similar to mid-Jan14's failure then sharp retreat....or will S&P             finally break above the resistance?
With extreme bullishness (Put/Call, sentiment surveys, etc.), VIX             at/near multi-year lows, one could make a very convincing argument for bears here.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out