Despite Thursday's and Friday's sell off the SPX
is still in a bullish
up trend. Key levels to watch for -1729 if price can have a strong daily close above this level it could indicate higher prices to come, possibly even targeting the gann
1/4 - 1630 May's close has been a key level for support and resistance
, a break under 1630 could indicate a correction - 1549 this is a key level for the SPX
to stay in a bull market, a strong monthly close below 1549 and the gann
1/3 would indicate a bear market has commenced. 1549 was the 2000 high and 2007 close high, this level showed a top two times, 1549 could now be an inflection point, hold above this level along with the gann
1/3, bull market , break below, bear market.