S&P 500 Still Aims Higher For 1968/71 & 1978/79 Targets, Maybe 1992.5
Steve Miley | Oct 28, 2014 04:02AM ET
S&P 500 recovery trend intact
Despite a sideways reversal of the accelerated trend line from mid-month, yet another high level digestion above support seen at 1931.75, with a firmer area at 1922/20.
This leaves bias still higher, to aim for targets at the swing highs/ retrace at 1968.5/ 1971.0 early this week.
Overshoot threat is to 1978/79, maybe 1992.5 for latter October.
WHAT CHANGES THIS?
Below 1922/20 eases bull risks; through 1885.75 signals a neutral tone, only shifting negative below 1872.5/70.0.
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