S&P 500 Pullback Target

By | July 8, 2014

The S&P 500 index has recently been testing the upper end of the rising channel it has been trading in for the last year.

38. spx chart

If it reverts back down to channel support, those moves have usually taken about a month. That targets the 1885 area which is a 4% decline from its current level.

38. spx 22 chart

(I am long the SDS.)

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  1. Pingback: Pullback or Bounce Back ? | Rightview Trading

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