Tuesday, 25 August 2015

S&P 500 decline pauses at internal line of 25 year old trend channel. 1700 next?

Monthly chart shows the S&P 500 all sessions. Monday's fierce decline was halted around an internal trend line of the illustrated 25 year old trend channel, a channel and line that I have published many times in recent months. Was anybody watching? Probably a temporary halt, with further lows ahead.

Zooming in a tad also on the monthly, more clearly illustrates a target around 1700 in coming days, weeks, or months. Or hours? At the trend line drawn from the 2009 and 2011 lows.