Tuesday, 8 September 2015

S&P 500 futures up 2% from Friday's close, toward multiple resistance levels

The S&P 500 cash market closed Friday at 1921. Daily chart shows the futures have rallied 2% from that close, toward a cluster of resistance that stretches from 1970 toward 1990. Crucially, the trend is down, and only a rally above 2040-50 (!) would strongly shift the odds toward the August low being lasting. You can review my long term charts here, posted on the weekend.



Hourly chart illustrates yet more resistance lines.



No comments:

Post a Comment