After repeated tests where it held, the thrust down after the Fed hike on Wednesday broke down through the big support level and potential H&S neckline in the 2530-40 SPX area and continued down. Wednesday night I was looking at the next big level on ES 2465-80 area and that too has broken yesterday. I’d be surprised not to see a strong counter-trend rally on SPX soon but it’s getting harder to identify where the next decent support might be.
(more…)Slope of Hope Blog Posts
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