Tuesday, February 4, 2014

SP 500 Futures (H4) Weekly: 15-month bull trendline breakdown; DJIA: Testing 200 day moving average





  • Broke below 15-month bull trendline amid weakening indicators
  • Risk remains for further downside towards 1640.5 near the 59-month bull channel support zone (off March 2009 low)






  • Corrected lower to test the 200 day/ 50 week MA
  • Deteriorating indicators suggest that scope remains for further downside towards 14719 near the 27-month bull channel support
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