I've taken the liberty to draw a proprietary Key Parallel Trend Line
across the Daily S+P 500 Chart, (Shown Here)
That "bounce line" cutting across the middle of the chart
represents in my opinion perhaps the most key support line to hold price above at this time.
TRANSLATION= MAJOR SUPPORT
That Support Line currently comes in on the Daily Chart between
2937.50 - 2940.00
If this weeks sudden,and already violent volatility driven decline
needs to stop somewhere,
it's there,... and right now.
Also noteworthy for anyone paying attention,
the tradingview.com S=P 500 Trend Model,
just gave a Sell Signal this week on the clock,
the first time I can recall it doing that, in recent market history,
THE_UNWIND
8/2/19
NEW YORK
across the Daily S+P 500 Chart, (Shown Here)
That "bounce line" cutting across the middle of the chart
represents in my opinion perhaps the most key support line to hold price above at this time.
TRANSLATION= MAJOR SUPPORT
That Support Line currently comes in on the Daily Chart between
2937.50 - 2940.00
If this weeks sudden,and already violent volatility driven decline
needs to stop somewhere,
it's there,... and right now.
Also noteworthy for anyone paying attention,
the tradingview.com S=P 500 Trend Model,
just gave a Sell Signal this week on the clock,
the first time I can recall it doing that, in recent market history,
THE_UNWIND
8/2/19
NEW YORK