S&P500: Sliding back to 1920.4?
The S&P500 slid for the last two session erasing most of last week's rally. The current patterns confirm Thursday's shooting star, suggesting the benchmark to be in a bearish market, which may send it back to 1920.4.
The benchmark closed on Friday, while trading around 1952.18. The benchmark will reject the ascending triangle figure. should it breach 1952.18, and head to 1920.4, with 1937.9 as a primary objective.
If an inversion occurs, it will have 1975.97 as an objective, and 1966.48 as a primary objective.
The daily Pivot Point is around 1966.04. The daily support levels are around 1945.43 and 1932.83. The daily resistance levels are around 1978.64 and 1999.25.
The benchmark closed on Friday, while trading around 1952.18. The benchmark will reject the ascending triangle figure. should it breach 1952.18, and head to 1920.4, with 1937.9 as a primary objective.
If an inversion occurs, it will have 1975.97 as an objective, and 1966.48 as a primary objective.
The daily Pivot Point is around 1966.04. The daily support levels are around 1945.43 and 1932.83. The daily resistance levels are around 1978.64 and 1999.25.
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