Quick summary on SPX:  As

    Posted by steve on 1st of Aug 2014 at 09:13 am

    Quick summary on SPX:  As discussed last week, the SPX daily chart was exhibiting some weakness (tired market) displayed with the narrow range candles.  Following those narrow range candles (SPX) began to rollover slowly at first and then once it lost the 1973 pivot range AND especially the 1956 pivot the market plunged yesterday down the 1929 pivot range.  The fundamental issue revolves around the FED raises rates sooner than later (remains to be seen).  

     

    Steve, 1973, 1929, 1956 were all

    Posted by darnelds on 1st of Aug 2014 at 09:30 am

    Steve,

    1973, 1929, 1956 were all market top years.  Pretty funny.

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