My tech analysis shows 1023, 1018, 1012, 1002, 995 as the targets down in SPX especially if
1041/44 holds as Resistance. And later, if SPX gets to 992 or 978, a bear Head and Shoulders
can develop. If that Head Shoulders breaks, then SPX targets next would be 904 or 876.
Of course, this happens only if resistance holds and the bears can break support levels. The bulls can push up to 1120 as an alternative.
Right now, the charts suggest the bearish case with a move to 1023 for starters.
I don't have a chart to post for this now, might add it later.
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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