D Hawkins

31
May

S&P 500 Intermediate Term – Clearly In A Downtrend

Posted by D Hawkins

This is the update of my May 23rd post of the weekly bars chart.

Last week I said that the perforation of the S2 curve was minor enough to say that support was still holding.  However, this past week’s action clearly is a breakdown of that support.  So, price is breaking supports while holding resistance, which is the Midas definition of a downtrend.

^GSPCwkly

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