Firmest Support on SP500 Still a Lot Lower

SP:SPX   S&P 500 Index
Zig Zag overlay on the weekly SP500 makes it clear that recent drop has a ways to go before reaching the most solid support area in sight. That area is defined by the consolidation pattern formed between mid-2014 and mid-2016 -- the breakout of which led to to the ascent in the S&P 500 from late 2016 into January 2018.

The top of that consolidation pattern indicates a support zone circa 2140 -- nearly 500 points down from where we are now.

Not saying we're heading there immediately. It would not be surprising if we saw some consolidation of the recent decline. But the probabilities suggest more down-side in the weeks and months ahead.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener 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 Contact Support Ideas Published Followers Following Private Messages Chat Sign Out