S&P 500 – Finds support at 200-DMA

SP:SPX   S&P 500 Index

2083 ( 200-DMA             )
2062.8 (June 17 low)
2047 (38.2% of Feb low – Aug high)


2103 (23.6% of Feb low – Aug high)
2114.7 (Oct 13 low)
2145 (100-DMA)

Comments – Profit taking on shorts appears to have aided the moderate recovery from the 200-DMA             support of 2083. Overall, the bear grip remains intact so long as the index remains below crucial resistance (earlier a strong support) of 2120.
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