State of the Markets – SPX Chart
Markets are jittery in the short term, as seen on the SPX Charts of the last 2 weeks. The SPX hit a high of 1687 about 10 days ago, but since then, we’ve seen a close to 5% correction.
The ADP numbers did not look rosy (although these numbers haven’t been very reliable lately).
Friday’s unemployment number is going to be key.
Japan’s markets are in absolute chaos, down 20% in the last 2 weeks.
The VIX is up past 17, a rare occurrence this year.
Analysis of SPX Charts (Short-term)
So what does the market do from here ? Let’s look at the technical pattern and I think we can get some clues, or at the very least what to look for in the next 2 to 4 weeks.
Check this video, and please leave your comments here..