Friday, May 14, 2010

$SPX Support Lines

Update - Red July support caught it the first time and now pink July support caught it. Not much left under this point till 1097, then 1066. The gap is in there from 11 to 22.  

Just some charts for you to see no time for in depth commentary. Bottom line is there are all the major support line options that I see. After stopping just under my 42 target let's see what it wants to do from here. Due for a slight corrective I think.

Long term -
Closer -

Closest - That I can get where you can see 'em all. the blue and bronze are gone. those were P2 support options. Red and pink dashed come off of July lows.