SP500 - Decision time...
Following on from the last chart posted on SP500 (link below), the index initially bounced at the major 3600 support zone and went to test the down sloping 20 day moving average (3778-3808 support turned resistance).
Bulls may attempt to put a double bottom in here, or break down to minor support 3500.
Failure of 3500 opens the gates to the next 3188 target & 3050 trendline support zone.
I remain bearish while we continue to trend down below the major moving averages, 'follow the cork'.
Bulls may attempt to put a double bottom in here, or break down to minor support 3500.
Failure of 3500 opens the gates to the next 3188 target & 3050 trendline support zone.
I remain bearish while we continue to trend down below the major moving averages, 'follow the cork'.
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