SPX (S&P 500), Daily Chart Analysis March 20
Technical Analysis and Outlook
The SPX index after continuously moving steadily to higher completed its Inner Index Rally 2840 as projected on March 2 chart analysis, as relatively weak standing Key Res 2814 has been obsoleted in the meantime - there are no major resistance points at this time - The next intermediate outcome is Inner Index Rally 2880.
On the downside, there is a newly created intermediate Mean Sup 2806, however, established Mean Sup 2747 (obsoleted by the third leg move) is alive as well in the event there is major reversal movement following a violation of the Mean Sup 2806 - The major Key Sup 2706 is resting below. (For latest Market Commentary, please visit the TradingSig_dot_com).
The SPX index after continuously moving steadily to higher completed its Inner Index Rally 2840 as projected on March 2 chart analysis, as relatively weak standing Key Res 2814 has been obsoleted in the meantime - there are no major resistance points at this time - The next intermediate outcome is Inner Index Rally 2880.
On the downside, there is a newly created intermediate Mean Sup 2806, however, established Mean Sup 2747 (obsoleted by the third leg move) is alive as well in the event there is major reversal movement following a violation of the Mean Sup 2806 - The major Key Sup 2706 is resting below. (For latest Market Commentary, please visit the TradingSig_dot_com).
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