I have highlighted a few times that the 1,300 level in the S&P 500 has been a key price level numerous times since the late 1990’s.(see post here)  In 2008, it became key resistance, prior to a 30% plus decline!


The 500 index continues to find the underside of 1,300 as key resistance.   With key support and resistance close at hand, patterns suggest that the broad market should be fairly dull for a while.  A flag/pennat pattern in the early makings???  Will see…

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past