Incogniteaux

BOUNCE POTENTIAL

SP:SPX   S&P 500 Index
89 1 3
I'm not bullish on this chart. We are dangerously close to breaking through a severely important trendline support, but we're not quite there yet. If we break down past 2076 then you can start stockpiling canned goods and buying ammo, but as for now, things are still okay. I wouldn't short just yet.
Nice chart! - A close below 2075 today will set bonfire night off with a bang as this will mean a weekly close (more significance) under a decent support. However i agree that the chance are slim on this happening and the odds favor a bounce. I've been short from 2150 but will perhaps look to lock in profits by going long (hedging) around 2080 with stops under 2075.
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