novvoll12
Long

SPX -4-year rising trendline reverts to long-term resistance

SP:SPX   S&P 500
spx
SPX             ( S&P 500 Index             ) monthly neutral – 4-year rising trendline reverts to long-term resistance

SPX             fell from its 2134.72 record peak (May 2015) to reach 1867.01 (August 2015), near 23.6% of the 1074.11/2134.72 rise (October 2011 low/May 2015 high), before consolidation took hold. If the 2020.86 area (September 2015 high) near the 4-year rising trendline (from October 2011 low, former support) now resistance could limit the rebound, it is possible to see a retest of 1867.01. Only a break below 1867.01 would extend the downleg towards 1820.66 (October 2014 low) ahead of 1737.92 (February 2014 low) near 50% of the 1074.11/2134.72 rise.
However, if bulls manage to reclaim the 2020.86 area and clear the trendline resistance, that would signal return of long-term strength towards 2134.72.
Outlook:
Daily: bullish
Weekly: bullish
Monthly: neutral
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