The SP 500 is on a critical support level.
We're getting very close to the point where we either get a technical bounce, or the stock markets start breaking down dramatically.
Keep an eye out for one more plunge down and then a short covering rally. If that rally fails we could see a continuation down in a crash, albeit one in slow motion.
A technical bounce here is a higher probability but more downside is very possible.
24 February 2009
SP Monthly Chart and Short Term Indicators
Category:
short term indicators,
SP Monthly Chart