Price revisited the down channel midline 1900-1920 area finishing the week just above. If the analog continues price would need to continue its bounce up to the 2000-2020 zone. Note: this would be between the 50 and 62 fibonacci levels measured from the May high to the selloff low.
If price makes the pivot higher I will be closely watching for RSI to break and hold above its current down trendline.
market-observer.rhcloud.com/2015/09/06/case-study/update-sp500-points-to-ponder-2011-and-2015-selloffs-and-bounce/
If price makes the pivot higher I will be closely watching for RSI to break and hold above its current down trendline.
market-observer.rhcloud.com/2015/09/06/case-study/update-sp500-points-to-ponder-2011-and-2015-selloffs-and-bounce/
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