$SPX Daily Candle Analysis 8/13
Our last prediction was wrong. We predicted that today would close positive and near 1940. Instead, the 
SPX closed negative and further away from 1940. It did test the 1940 resistance early and then proceeded to move downward and test 1930 support. Buyers came in and gave it a bounce from the support level and it closed around 1934. Our candle analysis predicts that Wednesday's trading day will close negative. The MACD is still in seller control and Monday's trading gave a hint that higher prices will be rejected. We predict the market will fail 1930 and possibly give back at least half of the gains from last Friday by closing around 1920.
SPX closed negative and further away from 1940. It did test the 1940 resistance early and then proceeded to move downward and test 1930 support. Buyers came in and gave it a bounce from the support level and it closed around 1934. Our candle analysis predicts that Wednesday's trading day will close negative. The MACD is still in seller control and Monday's trading gave a hint that higher prices will be rejected. We predict the market will fail 1930 and possibly give back at least half of the gains from last Friday by closing around 1920.
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