SPX: Weakest Technical Support = Bear Downtrend Risk
Of the 3 big stock market indexes, the S&P500 or SPX is supported currently with the weakest technical support. This is NOT a fundamental support level. IF there is sudden panic due to some catalyst, and there are many potential catalysts waiting in the wings, this support can easily be moved through. A breakdown of this support level brings the risk for the end of the trading range bear market we've had so far and the start of a bear market downtrend.
Martha Stokes, CMT
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Learn how to use the technical patterns of each market participant for better trade planning.
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Learn how to use the technical patterns of each market participant for better trade planning.
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