Sunday, 14 February 2016

S&P 500 rallies from 9 month old corrective trend channel support

Daily chart shows the S&P 500 rallying from support at the lower end of a 9 month old trend channel. The 1950ish level is important potential resistance.

Weekly chart next, the S&P printed a long tail for the past week, with a false downside break at two key trend line supports.