S&P500: How far will it go?
The S&P500 endured a free fall yesterday, hitting lows not seen since August's selloff. Volatility is higher, the benchmark fell out of its bollinger bands suggesting a very bearish trend. The main question remains will it continue seeking lower lows, or will it hold on to its 1869.27 support level?
Pursuing the bearish trend will send the benchmark south towards 1856.39, with 1869.27 as a primary objective. The latter being a strong support level.
If an inversion occurs, on a daily scale, it will have 1912.2 as a primary objective.
The daily Pivot Point 1896.72. The daily support levels are around 1864.26 and 1846.75. The daily resistance levels are around 1914.23 and 1946.69.
Pursuing the bearish trend will send the benchmark south towards 1856.39, with 1869.27 as a primary objective. The latter being a strong support level.
If an inversion occurs, on a daily scale, it will have 1912.2 as a primary objective.
The daily Pivot Point 1896.72. The daily support levels are around 1864.26 and 1846.75. The daily resistance levels are around 1914.23 and 1946.69.
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