Wally

S&P at a crossroads

FX:SPX500   S&P 500 Index
57 0 0
S&P 500             currently straddling support level . 3 possible routes emerge:

1) Retest of previous structure highs at ~ 2125

2) Continue to languish at current support level at ~ 1900

3) Break to the downside. The next floor I see if such a scenario occurs stands at ~1500, which signifies a 30% correction

After years of addictive doses of Quantitative Easing & near-zero interest rates, will tightening money supply conditions finally force the market to the downside? One can only wait and watch.
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