sp 500 daily outlook tues 19 jan 2016 watch the 1915 resistance for potential final push down 179387
(Click to enlarge charts) Key elements The U.S. SP 500 Index (proxy for the S&P 500) has appeared to be evolving within an “Expanding Wedge” […]
(Click to enlarge charts) Key elements The U.S. SP 500 Index (proxy for the S&P 500) has appeared to be evolving within an “Expanding Wedge” […]
Pivot (key resistance): 1915
Support: 1857 & 1835/20
Next resistance: 1935/54
As long as the 1915 short-term pivotal resistance is not surpassed, the Index may see a potential final push down to retest last Friday, U.S. session low at 1857 and even the 1835/20 support.
However, a clearance above the 1915 pivotal resistance is likely to invalidate the bearish move for a squeeze up towards the next resistance at 1935/54.
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