SP500 opened 2014 down 0.9% which is the weakest since 2008, not a good omen. I am looking for the SP500 to trade in the range 1650-2050 with strength shown into Q2 2014 before a pullback in the 2nd half of the year.
Intermediate term, I am looking for a test of the 50ema(1791) in Q1 2014
Long term a test of 200ema(1681) would not be surprising in June, the weakest month of the year.
Bears will need to see a weekly close below 1775
Bulls will look for the 50ema (1791) to hold and a move up to 1900 in Q1 2014
Intermediate term, I am looking for a test of the 50ema(1791) in Q1 2014
Long term a test of 200ema(1681) would not be surprising in June, the weakest month of the year.
Bears will need to see a weekly close below 1775
Bulls will look for the 50ema (1791) to hold and a move up to 1900 in Q1 2014
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