A better view of the downtrend channel (SPX)
Here is a little bit clearly drawn view of the S & P 500 downtrend channel I mentioned yesterday that I will be trading for the near future. I won’t be bullish until the top trendline is taken out on a close.
Also, be aware that 1150 is a long term resistance level to watch. A test of 1150 to the upside and then another rollover is one likely scenario I’ll be watching for!
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