JonathanWong

Short reprieve to the US Equity market

Long
FX:SPX500   S&P 500 Index
The SPX has fallen to a 52 week low following concerns on the Chinese economy and oil glut that drove oil prices to record low. It appears that the SPX has found temporary support around 1820. The Index has previously on two other occasion (in October '14 and more recently August '15) failed to break past this level. Daily close candles points to a reversal of the current daily downtrend. Potential target of 1960 - 2000
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.