S&P Falls Under Support

The S&P has formed a Rising (Bearish) Wedge over the last 6 month, but is now creeping under its line of support.  Taken in tandem with the underperformance of riskier assets like emerging markets and small caps, this may be the start of bad news for the Bulls.

How long can AAPL continue to ascend and hold up the market?

**UPDATE – As of Friday morning, S&P Futures moved markedly lower, eliminating any doubt about the breakdown.

  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: