S&P 500 INDEX - $SPX
Monthly chart continues to show downside weakness with no buy signal/pattern evident on this timeframe. Index remains well below all key moving averages and the down trendline in place. Look for test of the November 2008 low and key LIS before a break and lower still.
Weekly chart continues to show weakness with the index remaining below all key moving averages and all down trendlines in place.
Daily chart shows continued weakness and a lower high in place. Index remains below all key moving averages and a down trendline in place. Look for continued weakness and eventual continuation lower to test the November 2008 low initially. Let's see if we get any short term rally off the .786 fib level and .886 fib level or not.
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