S&P500: Attempting to breach 1920.4 again?
The S&P500 has been stuck in a bear market since the FOMC meeting last week. Yesterday, it was seeking new lower lows, but was faced by buying pressures, preventing it from settling down under 1920.4.
The current pattern suggests that an inversion may occur, on a daily scale, should the benchmark opens today, above 1937.17. The objective, in this case, will be 1952.18, with 1942.66 as a primary objective.
If the benchmark opens below 1932.24, it will have 1912 as an objective, and 1920.4 as a primary objective.
The daily Pivot Point is around 1926.11. The daily support levels are around 1915.05 and 1897.86. The daily resistance levels are around 1943.3 and 1954.36.
The current pattern suggests that an inversion may occur, on a daily scale, should the benchmark opens today, above 1937.17. The objective, in this case, will be 1952.18, with 1942.66 as a primary objective.
If the benchmark opens below 1932.24, it will have 1912 as an objective, and 1920.4 as a primary objective.
The daily Pivot Point is around 1926.11. The daily support levels are around 1915.05 and 1897.86. The daily resistance levels are around 1943.3 and 1954.36.
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