What Comes Next For The S&P 500?
Tim Knight | Oct 15, 2018 01:33AM ET
What happens this week? What even happens on Monday morning? It’s a big question on everyone’s mind, because last week was so out of the ordinary.
Simple chartist that I am, I can merely point out to a couple of important price levels. One of them is 2800 on the S&P 500, which is, conveniently, a nice simple number to remember.
If we look at more data, we can understand the especial importance of this level, since it is roughly around the same point of the trendline failure. If there is enough strength to power past 2800, I’d say approximately 2870 is the next zone worthy of close observation.
By the way, if I’m ever caught as one of the biggest tax cheats of all time, can I start a war with Saudi Arabia to change the subject? Asking for a friend.
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