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Cash SPX Flirts with Significant Support Levels and the Completion of a Major Top Formation

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    If it looks like a top, and acts like a top, and the Fed is not actively and overtly buying assets, then it should be a TOP in the SPX. As we speak, S&P 500 (SPX) is bearing down on its prior low at 1812.29 from Jan 20, which if violated and sustained, will trigger a next downside target zone of 1750/40. More importantly, however, if such a scenario begins to unfold, then SPX will be on a larger downside path that has a trajectory towards 1580/40, thereafter. At this juncture, only a sharp

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