Bearish TREND: S&P 500 Levels Refreshed

The stock market is not the economy. Growth and #EarningsSlowing has not changed; the markets re-rating of those economic risks have.

 

Across our core risk management durations, here are the lines that matter to me most:

 

1.       Immediate-term TRADE resistance = 1426

2.       Intermediate-term TREND resistance = 1419

3.       Immediate-term TRADE support = 1404

 

In other words, the market is now bearish TREND. What was support is now resistance. If TREND resistance remains, long-term TAIL support of 1354 is in play.

 

Risk moves fast,

KM

 

Bearish TREND: S&P 500 Levels Refreshed - KMchart1