themarketzone
Long

Couldn't close above 1950. Re-test of 1900 next?

FX:SPX500   S&P 500 Index
The fact that $SPX             couldn't close above the daily resistance near 1950 and closed below the Fast SMA line (4H chart) isn't a good sign for the bulls.
The price is barely above the 50 SMA line (daily) and if it'll close below 1930, it will breakdown minor support and probably continue lower..
Near 1900, we have the next support zone and potential buy zone:
1. Pattern completion - Bullish Bat
2. 200 SMA line
3. Daily structure zone
4. Psychological level

Tomer, The MarketZone
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heck of a rip there... looks like they won't let it go down until about june.
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