Of the 3 big stock market indexes, the S&P500 or SPX is supported currently with the weakest technical support. This is NOT a fundamental support level. IF there is sudden panic due to some catalyst, and there are many potential catalysts waiting in the wings, this support can easily be moved through. A breakdown of this support level brings the risk for the end of the trading range bear market we've had so far and the start of a bear market downtrend.
Martha Stokes, CMT
www.TechniTrader.Courses
Learn how to use the technical patterns of each market participant for better trade planning.
www.TechniTrader.Courses
Learn how to use the technical patterns of each market participant for better trade planning.