SPX spent another day yesterday with a low at the SPX 50 day MA and EMA in the 2100 area, a rejected high at the 50 hour MA, and close just under the daily middle band. I had thought that SPX might resolve this by gapping up over the middle band but there was no breakaway gap today and the opening gap was filled in very short order.
2100 area support is in the …. um …. 2100 area today, the daily middle band closed yesterday at 2112, and the 50 hour MA closed yesterday at 2115.3. In the absence of a break up the obvious target is still in the 2082-4 area, if bears can ever manage to finish beating 2100 support to death. SPX daily charts:
