Free Trial

TECHS: SPX has sold off sharply this.......>

EQUITIES
EQUITIES: TECHS: SPX has sold off sharply this week. Our intraday trend
condition model has been in a bear-trend since Feb 24 and suggests the risk
remains to the downside.
- It is worth noting that the index yesterday arrived at the base of a long-term
trendline support drawn off the Dec 26, 2018 low.
- LEVEL TO WATCH: The trendline intersects at 3118.50 today and although the
line has been breached, a strong daily close below the channel is required to
confirm a breakout.
- Brave contrarian traders though would likely be assessing whether current
levels offer a decent buying opportunity.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.