SPX ‘unfinished business’ monthly chart

A look at the monthly chart three days into April. The quarter ended on March 31 and soon the public will be getting its personal statements on the damage, which is a more visceral experience than seeing it on the news as an abstraction.

SPX is still above the 38% Fib but the favored level continues to be lower at 2030 to 2100. Aside from price, maybe monthly RSI will be the guide, with the index finally bottoming at whatever level RSI makes as deeply oversold a reading as in March of 2009.


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