Tuesday, June 25, 2013
SPX Monthly Chart Identifies 1550 as the Monthly Close Number Line in the Sand
The long-term monthly chart shows that the market bulls are okay, and can keep the hopes of higher all-time highs on the table, as long as the SPX stays above 1550 on a monthly closing basis. Last month's close is 1631 well above the 1550 bull-bear line. Current print is 1573 about twenty points above 1550 with four days remaining until the June monthly print occurs 4 PM EST on Friday. If the SPX prints one or two months under 1550, the markets are toast. Therefore, the next four days of trading are very important to see how June finishes. The market bulls can keep the upside in tact if they hold the SPX above 1550. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.