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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

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Thursday, March 29, 2018

S&P 500 Index: Support/Resistance Levels

Near-term resistance on the S&P 500 Index (SPX) sits at 2632.91 and support at 2585.68...formed by a one-day moving average (mid-point of candle high/low -- input source is hl2) of the February 8 & 9 candles, as shown on the daily chart below.


Longer-term +50% Andrew's Pitchfork channel support converges at this month's low of 2585.38, as shown on the monthly chart below.

So, short and long-term moving average and pitchfork channel support converges at 2585.

Look out below if price drops and holds below that level! And, a retest of the pitchfork median (broken pink line), currently around 2460, is long overdue.