Monday, May 17, 2010

SPX - Breaking Down Or At Support?

Tough call at this time as price sits on the pink dashed line and cracks two possible diagonals.the pink lins is support from the July lows that was in play Friday. If this goes there is really nothing to stop it between here and 1,100. Keep an eye out here. If Friday's lows go, so may the market. Remember the futures were as low as 13 points down at one time late last night. I think you can see the claw marks on the side of the cliff. They are struggling and fighting to keep it afloat here.