Wednesday, December 14, 2011

S&P 500 ~ EOD Update ~ 14 December 2011

The pullback continued today and the SPX has already retraced more than 50 % of the late November rally:

I labeled the 1200ish area as an important support area. If the market breaks below it the medium-term trend will be down. As long as it holds though I still think there could be one more rally late December/early 2012.