Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 691.66

-0.1%

Jan 16 4:00 PM EST

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To: GROUND ZERO™ who wrote (42818)	12/31/2012 5:44:57 AM
From: Vendit™	1 Recommendation Read Replies (1) of 222048

My two cents: The $SPX will likely drop below the Friday close, at least intraday and probably for the close on Monday. The first support target is 1,391.32. Additional support targets are annotated on the chart below. All indicators are still pointing down and the stronger momentum indicator MACD has firmly dropped into a negative area below the zero neutral line. There is no sign of reversal as of Friday’s close.

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