sp 500 daily outlook fri 09 dec rebounded just above 2050 weekly pivotal support 1790042015
(Click to enlarge charts) What happened yesterday The U.S. SP 500 Index (proxy for the S&P 500) has broken below 2064 short-term pivotal support and […]
(Click to enlarge charts) What happened yesterday The U.S. SP 500 Index (proxy for the S&P 500) has broken below 2064 short-term pivotal support and […]
The U.S. SP 500 Index (proxy for the S&P 500) has broken below 2064 short-term pivotal support and drifted down close to the 2050 weekly pivotal support.
Intermediate support: 2060
Pivot (key support): 2050
Resistance: 2069 & 2088/2096
Next support: 2041
As long as the 2050 weekly pivotal support holds and a break above the 2069 intermediate resistance is likely to trigger a further potential push up towards the “Symmetrical Triangle” range resistance at 2088/2096.
However, failure to hold above the 2050 key pivotal support may invalidated the push up scenario for a further slide to retest last Friday, 04 December 2015 swing low at 2041.
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