S&P 500 Weekly Daily Chart Analysis For July 12, 2021
Updated
As stated on July 5, Weekly Market Review & Analysis, the index current Buy zone stands at $4320 - $4290, while Mean Sup $4290 and newly created Key Res $4386 are support and resistance, respectively. See the 'Weekly Market Review & Analysis For July 12, 2021" page at the usual site for the rest of the market story.
Note
The Index is rebounding from the Mean Sup $4290 and our buy zone and is progressing to the forecasted target of Outer Index Rally $4465, and temporary obstacle the Key Res $4386. Make no mistake; this was designed take-down to weed out weak longs, and buying everything insight was in order. From the technical analysis and outlook, we have very powerful a new Mean Sup marked at $4260.
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