S&P 500 INDEX - $SPX
Monthly chart shows index to be below the 8ema and the 34ema. Current support is right at the 89sma, the LBB (lower Bollinger Band) and also at the 1.27 fib level. Although this level saw some buying activity, there is no buy signal/pattern evident on this timeframe. 
Weekly chart shows short term support but no buy signal/pattern evident on this timeframe.
Daily chart shows profit-taking and resistance off the .382 fib level and the 34ema. Look for possible consolidation/chop before the next trending move.
Saturday, July 26, 2008
$SPX Update for 07.26.2008
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