Home > Financial Ponzi, investing, stock charts, Stock Market, technical analysis > Near critical technical support for S&P?

Near critical technical support for S&P?

The S&P is nearing critical technical support.  It is flirting with its 200 day moving average (blue dashed line), along with a trendline that has traced along recent bottoms.  On a linear chart (below), it is also flirting with breaking the longterm support trendline from the 2009 bottom.

 

On a logarithmic chart (below), the S&P broke under its 2009 support trendline months ago (white circle) and has established a down/sideways trend.  Whether you prefer the linear or logarithmic chart, the recent sideways trendline (heavy dashed)  is probably pretty important for the index to hold.

A break doesn’t necessarily indicate imminent disaster, but it would indicate that the current trend is down, not sideways, imho.

 

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