"First target around 1375 and second is... Well, we will get back to these charts if price tests 1375 or 1437"
4th November SPX @ 1414.20
As expected, price tested 200 days e.m.a.. Price action after that test was strongly bearish: a week trading around 1375 incapable to get back on track.
If price can´t get back above 1375/82 one should expect the index to give up all his gains for the year and trade under 1270. This is the second target. Back to the formula if SPX closes 2 days above 1382 or under 1270.
One small alert, SPX have an important support around 1345/52, which can always get the bulls back on his feet again, at least for a while!
K.I.S.S. -"Keep It Simple (and) Stupid"
