SPX - Many supports to drill through

S&P 500 index of US listed sharesFXCM

Description

⋅ Mar 25, 2015 5:45 PM

I think it will go down to 1968 (5% lower, 7% from top) but there are many supports to break:
2073 50d ema
2070 Monthly pivot
2062
2040
2033
2023
1968 Yearly Pivot (which i think will retain once more into May15.

Comments

jangseohee

⋅ Mar 26, 2015 1:33 AM

price is perching on a thin tree branch

look4edge

⋅ Mar 25, 2015 10:29 PM

indeed - 2025/2010 or maybe 1972/1955

YaKa

⋅ Mar 25, 2015 11:34 PM

We are in sync

elp

⋅ Mar 25, 2015 9:55 PM

Currently the 12 month MA is at 1993. Looking left, everytime price closed clearly below it signaled a correction,

YaKa

⋅ Mar 25, 2015 11:26 PM

yes. good point.
I think it may hit 1968 within the month and climb back above 1993 before month end.