S&P 500 Doesn’t Look Good At This Point

Can’t really be surprised about the last-half hour meltdown in the S&P 500 (^GSPC). This is a disaster for the market because the initial support level is now broken and October 10’s low is the absolute last level remaining. There are no more short-term support levels remaining. Technically, if you count the bodies and not the shadows, we broke down a long time ago. Doesn’t look good for the market at this point.

S&P 500 1-day

S&P 500 3-day

S&P 500 10-day

Posted in Categories: Contributor, External Research, Stocks, USA.

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