SP 500 - $SPX
Monthly chart shows trendline broken. Last three months has had net selling. Index is now trading below the open of 2007. No buy signal evident on this timeframe.
Weekly chart shows Neckline of small h&s bearish pattern to be broken. No buy signal/pattern evident on this timeframe.
Daily chart shows potential consolidation or bear flag formation in the making. IF this is a bear flag, THEN look for breakdown and lower in the week(s) ahead.
Sunday, January 13, 2008
$SPX Analysis for 01.13.2008
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