Sunday, December 21, 2008

$SPX Update for 12.21.2008

S&P 500 INDEX - $SPX

Monthly chart remains bearish with no buy signal in place on this timeframe.

Weekly chart shows continued weakness and consolidation, as the last three week's trading activity resulted in a hammer, doji and spinning top. No buy signal in place on this timeframe.

Daily chart shows continued weakness, with the bulls losing their initial gains to the bears as the trading week drew to a close. Look for continued weakness and a test of the low at the very least.

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