S&P 500: Is 2400 a major top?
Weekly S&P 500:
- 800 low in 2009 and 2003 held. Double bottom.
- Breakout above major resistance of 1600 in June 2014 suggested a rally of 800 points (1600-800).
- We are now there at 2400 (1600+800).
We think it is going to be difficult to go higher before some major consolidation.
- 800 low in 2009 and 2003 held. Double bottom.
- Breakout above major resistance of 1600 in June 2014 suggested a rally of 800 points (1600-800).
- We are now there at 2400 (1600+800).
We think it is going to be difficult to go higher before some major consolidation.
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