Thursday, July 9, 2015

S & P 500 Futures...some perspective

Wild week, but the levels are all still intact.

The March low @ 2032 has held nicely for now and has become the line in the sand.

There's resistance to bounces @ 2062, the 150 dma @ 2073 and 2079.

Greece, Puerto Rico, China, and the NYSE trading halt (hack).

I'm not sure what else they can throw at this market, but be prepared.

If there is another event that causes more selling, keep an eye on 2032.

Under 2032, the red trend line that I highlighted back in October 2014 is back in play and gets us to 2000 quickly: