S&P 500 INDEX - $SPX
Monthly chart shows the bulls managed to take the market higher during the month of April. Look for a test of the October 2007 high. Back in September 2000, the market made a lower high right off the .886 fib retracement level before heading down the 768 October 2002 low. Will the market make a lower high again?
Weekly chart shows the bulls managed to take the index above the 34ema. Current resistance is right at the .50 fib retracement level.
Daily chart shows early profit taking on Friday. Initial resistance is right above, at the UBB (upper Bollinger Band) and the 200sma.
Sunday, May 04, 2008
$SPX Update for 05.04.2008
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