I'm trying to find order in the chaos...the SPX monthly looks a bit interesting. here it is with just a 200 month ema. Note how that ma was support for the triple bottom in 2002/2003 with a perfect touch at THE low in October 2002. It was also support for the 2010 july low.....
In 2008 the SPX went straight through the ma like a packet of prunes BUT it did come back to test the underside of the ma in between the October and November 2008 panic lows.
So unless fundamentals suddenly get a whole lot worse that seems like a good place for us to eventually find a low...about SPX 1040...ish....
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Last
8,559.7 |
Change
-70.600(0.82%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,630.3 | 8,630.3 | 8,544.7 |
| XJO (ASX) Chart |