Tuesday, September 13, 2016

SPX: Is the current upmove dead?

About a month ago we suggested caution regarding the equities market (Market (SPX) is dangerously approaching stall speed).We noted that "unless market moves higher with full speed, soon it will succumb to gravity"  and that is what's happening now. Is the current upmove dead? We don't think so.
There is still plenty of room for equities to correct before proclaiming the death of the current bull.
Current support levels for SPX: around 2100, 2040, 1990

Keep calm and trade on!