Sunday, January 25, 2009

$SPX Update for 01.25.2009

S&P 500 INDEX - $SPX

Monthly chart remains weak with no buy signal/pattern evident on this timeframe. Look for another run at the key LIS and the October 2002 low of 768.63.

Weekly chart remains weak with no buy signal/pattern evident on this timeframe.

Daily chart remains bearish, with the index below all key moving averages. The index has been stuck in a trading range since the low of November 21, 2008. Look to next week's trading session to see if the bulls want to make a run for a re-test of the january 6, 2009 high.

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