Monday, August 27, 2012

S&P 500 ~ EOD Update ~ 27 August 2012

After hitting the resistance at 1415ish in the morning, the SPX corrected for the rest of the day and closed just above the support area at 1410:

It looks like the SPX is forming an inverse H&S. If either 1407 or 1409 holds and then 1416 is broken, we should see a huge rally to new highs.