So there goes our support at 1085 on the SPX as I mentioned a few days ago. If the market cannot bounce into the close, from a technical analysis point of view, the chart looks very ugly as the uptrend since August of last year has been broken. Today’s reversal is particularly disturbing given a series of good news such as Helicopter Ben’s reappointment for another term and a surprisingly strong advance Q4 GDP at an emerging-market-like 5.7%.
Look out below!
