• Badge

    Hedgeye’s 10 Year Anniversary Super Sale

    Huge Savings on All Hedgeye Products

    Subscribe now & save more than 25%!

Takeaway: I’ll go with low gross and tight net, for now.



That breakdown through our immediate-term TRADE line of 1837 mattered last week. So did the VIX breaking out above our TREND line of 14.91. Now we’re in a tough spot. While 1779 TREND support is holding, the signal is registering TRADE support below that at 1769.

Lots of levels – but here are the ones that matter to me most:

  1. Immediate-term TRADE resistance = 1819
  2. Intermediate-term TREND support = 1779
  3. Immediate-term TRADE support = 1769

In other words, the first shots across the bow are direct hits (SPX is TRADE bearish and signaling both lower-highs and lower-lows within its immediate-term risk range). If the TREND breaks, there is no long-term TAIL support to 1678.

So I’ll go with low gross and tight net, for now.


Keith R. McCullough
Chief Executive Officer

Tough Spot: SP500 Levels, Refreshed - SPX