Get started
JohnKicklighter

S&P 500 Breaks Neckline of 2015's H&S, Backbone Trend At Risk

Short
S&P 500 Index (FX:SPX500)  
JohnKicklighter  
FX:SPX500   S&P 500 Index
4
1
The S&P 500 suffered its biggest one-day selloff in 18 months this past session. That was enough to push us to the lowest trading levels in six months and critically break the neckline on the head-and-shoulders that has formed through 2015. Is this THE move towards a market-wide deleverage that is long overdue? Big question and shouldn't be called on one day and one move. The next measured technical level will be the floor of the SPX channel going back to its March 2009 bottom.
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.