S&P 500 - weekly charts

Brief summary of the S&P 500 chart below:

1. The DJU is in strong correction while the S&P 500 is still at the top
2. S&P 500 volume is steady, so far no panic selling and no greedy buying, just quiet slide without increase in volume activity.
3. Money Flow is negative on the S&P 500 index
4. Number of the S&P 500 index stocks making new 52-week highs is dropping while the number of stocks making 52-week lows is on the rise.
5. Volatility is still at low level - current small slide did not brought an increase in volatility.
6. Number of declining S&P 500 stocks is bigger than the number of advancing stocks - declines beat advances.
7. Summary volume in the group of the declining S&P 500 stocks s bigger than summary volume of advancing stocks

chart20150605spx.png

chart courtesy of www.marketvolume.com
 
I'm waiting to 2080 on S&P 500. It is very important level. Why? Take a look at daily and weekly charts to find the answer.

See charts on: http://bedaytrader.com/index.php/latest/item/262-s-p-500-2080-important-level

I agree but have 2083 as the bear line for S&P, awkward trip for all markets at the moment with European QE in the mix now, it's a cage of monkeys, which way today?

S&P 2094 (close) looks like support at the moment so weakness here is a sell.

Nasdaq100 looks to be more bullish if above 4483 , recovery of 4500 could turn the US markets upside

Dow 17814 for a sell but 17870 for a strong buy :rolleyes:

The markets seem to have reached the "make your mind up point" ha

Cash markets
 
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