On the Weekly Chart above, the S&P 500 Index is still above the 38% Correction level, but considering trading below the 200 Week EMA. If the market continues to show weakness, a test of the 1170 araea is possible.
On the S&P 500 Daily Chart above, the market is still pulling away from the 50 Day EMA, but remaining above the 1270 low of January. There is some hope for the bulls, if the market remains above the 1270 area.
On the S&P 500 60 Minute Chart above, the new equilibrium area is between 1320 and 1270. This is a wide zone, but it is the area defined by previous pivot lows.
Charles
No comments:
Post a Comment