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S&P 500: Bearish Risks Ahead

Published 10/02/2014, 03:24 AM
Updated 12/12/2023, 05:55 AM

S&P 500 bearish risks

We have stated in recent reports that given the bearish shift “a notable topping structure still favours a deeper correction for early October to target chart/ retrace/ 100-day MA, support at 1950.0/48.5/47.5 next."

The plunge back from modest resistance at 1979.25 through these supports has already seen an approach to our next flagged target, the 61.8% retrace at 1933.0.

We now see risk through here ant the 1929.5 spike low, for chart/ retrace support at 1915.5/10.75.

Overshoot threat is to the 1882.5 key August low.

WHAT CHANGES THIS?

Above 1967.0 eases bear risks; through 1979.25 signals a neutral tone, only shifting positive above 1992.5.

See full report with levels & latest screencast here:

4 Hour S&P 500 E-mini December Future Chart

Daily S&P 500 Future Adjusted Continuation Chart

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