Tuesday, March 17, 2009

S and P 500 Current Bear Market (Chart) March 17

The slope of the green line continues to point downward leaving the market vulnerable to the downside. The blue and red lines continues to close indicating a consolidation is in place.

The short term trend is flat. The intermediate and longer term trends are still down at this time. As is obvious, the resistance is up near 800, and support is down near 666. The market should find near term resistance at 775-780, and near term support at 725-730.

Use this link for a larger, more flexible version of the chart.

June S and P Future March 17