JonathanWong
Long

S&P 500: End of a 4 day drop?

FX:SPX500   S&P 500 index of US listed shares
The S&P 500             has retraced to the 76.4% level from the august 8 low to the august 19 high. Current levels suggest a support at the rising TL around 193x. xx             level. Resumption of uptrend look possible. May be invalidated if prices closes below TL.
On the other hand the weekly chart suggests a return to the 1900 level - October can be a cruel month
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