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The push below technical support in stock indices fails. Rebounds.

Discussion in 'Technical Analysis' started by ForexLive, Apr 1, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Resistance above still needed to be maneuvered The S&P and the Nasdaq each moved below technical support today, but each has since recovered. Looking at the S&P Index, the pair moved above topside trend line (currently at 2054.21) on Wednesday's gap move. The gap was filled today and the price fell back below that trend line. However, the index has pushed back higher and currently trades at the 2060 area - above the trend line (2054.21). Stay above and the highs from December at 2104.27 and November at 2116.48 would be the hurdles.

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