Day Trading Course, Will the S&P continue to fall?
After a couple weeks of losing ground the S&P 500 traded to touch to the support at the 1320.00 area. From a purely technical stand piont this does seem to be an area that could begin the reversal for a retracement on the daily chart, however the end of the bears run here is unlikely. Long term support shows the likely downside target in the 1300 – 1303 area as a more likely longer term low side target.
Day Trading Course teaches key area’s in the markets to learn to take a profit
As far as retracement targets for upside over the next few days, price could test to the 1334 area first with the 1350 area as the next likely stop from there. After that it will be the watch for the next move down to show us where the market is on taking this further or beginning a move back up. See you at the starting line!