S&P 500 Target Price Outlook (Charting The Support)
April 4, 2012 2:26 pm
The breakdown from the recent high on the S&P 500 has been rather slow and graceful. That is often seen as a good way to breakdown as there is a steady build of volume through time. In other words, it creates a solid area of support when (if) price can get above in the future.
As the S&P 500 is not below key support of 1,399, the potential breakdown to the next level of support of 1,390. Beyond that, the next level of support is down to 1,368.