Support at Hand?

The last two weeks have seen the market’s sell-off accelerate to the downside.  Support – at least short term – may be at hand.  The S&P is hitting the falling trendline that runs through the major tops of 2008 and 2011.  1300 also has some history of support/resistance as a price level.

AAPL, a major market leader over the last few years is also returning to a major trendline that it broke above in the last six months.  One would expect the trendline to provide support after nearly twenty years as major resistance.

Advertisements
  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: