sp 500 daily outlook wed 26 aug 1940 needs to be taken out to see further potential upside 112632201
(Click to enlarge charts) What happened yesterday The U.S. SP 500 Index (proxy for the S&P 500) had a dramatic late sell-off and broke below […]
(Click to enlarge charts) What happened yesterday The U.S. SP 500 Index (proxy for the S&P 500) had a dramatic late sell-off and broke below […]
The U.S. SP 500 Index (proxy for the S&P 500) had a dramatic late sell-off and broke below the 1890 pivotal support. It tumbled close to the Monday, 24 August 2015 low of 1835
Please click on this link for a recap on our previous daily outlook.
Pivot (key support): 1854
Resistance: 1940, 1980 & 2000
Next support: 1835 & 1820
The Index needs to break above 1940 in order to trigger a further potential push up to target 1980 and even 2000 next.
However, failure to hold above the 1854 pivotal support is likely to see the continuation of the waterfall slide to retest the 24 August 2015 low of 1935 before 1820 (“Tweezer bottom” of 15 & 16 October 2014) next.
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