[edit] It goes without saying that if today's bounce fails and SPX goes on to make new lows, the analysis from this morning is back on. Though 2090 is a…
Yesterday we noted the Biotechs had lower to go, and lower they went. Typical of today's momo driven markets IBB took the express elevator right to the projected support zone…
S&P 500
Per the simplified big picture daily, weekly and monthly charts of SPX first introduced 6 weeks ago in NFTRH 329, we have been managing potential downside targets of 2000 and 1900.
If SPX were to hit either of these targets it would not kill the bull market, especially if 2000 holds. In that case it would be a normal, moderate and healthy correction.