sp'monthly9
Summary
Suffice to add... things are starting to get interesting again.
After the powerful February gains - with a new recent high of sp'2119, it had seemed the bears were toast until at least April/May... but recent weakness is causing some distinct technical damage.
If the sp'500 can take out the 200dma (2005/10 zone), next support is not until the 1950/25 zone. Clearly, that will take the better part of two weeks.. which would mean the bulls wouldn't have a hope of closing March net positive.
*ultimate 'best case' downside this late spring/summer is the lower monthly bollinger, which itself is rising each.. and every month.. currently @ 1654. By end year... core support will be pretty close to the giant 2k threshold.
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As ever... stay tuned!
