A few general observations on S&P500.
- 10% advance off the 9.10.13 low was 1811.644 and that was beat last Friday with the high 1813.55.
- The first swing low after the 9.10 low occured 7.11 price 1746.2. That left 16.34 points of spacing between it and the prior swing top from 19.9 evidencing a strong trend in progress. Again, with the swing low of 20.11 we saw further spacing, although only 2.01 points. Now, the swing high on 18.11 has been breached by 3.77 points and a close below it last session. Here is strong evidence that if the trend hasn't changed, it has significantly weakened.
Note the crimson trendline through the 2.4.12 and 22.5.13 tops.
You can see how price has responded to it and also that price found support very close to the 10 days sma.
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