- WE'RE JUST RANDOM SPECKS OF DUST IN A TORNADO TO THE MARKETS .......
- CHARTISTS MUST PUT ALL BIAS ASIDE AND LET THE CHARTS DO THE TALKING OR WE'LL SEE ONLY WHAT WE WANT TO SEE
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Wednesday 4 March 2015

Middle Band Support

We've seen some weakness and the obvious support is at the daily middle band in the 2088 area. If we should see a close well below that today then significant downside targets open up. Until then I'd be looking for support there. SPX daily chart:
SPX broke back and closed below the 50 hour MA yesterday. A break like this just signals that SPX is into a topping process unless SPX makes a conviction break below the daily middle band. SPX 60min chart:
The middle band is being tested and we'll see what happens here. Until we see a conviction break below it this is a very strong support level.
Posted by Springheel Jack at 11:03
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