Wednesday, 24 July 2013

S&P 500 September contract rallying from trend line support

On Monday I posted daily, weekly, and monthly charts for the S&P 500 and suggested it may be beginning a final blow-off rally toward 1800. Today the S&P September contract is rallying from trend line support, shown below on the hourly chart. Will we see an upside acceleration if (if) new record highs are made?