S&P-500 Outlook For September 29, 2014

SPX had a strong day on Friday to make back half of its Thursday losses. The daily trend is still down as long as price remains below 1,995, but the intermeadiate term picture is one of a market that has been rangebound around the 2,000 mark for at least one month. My scenario for fresh all-time highs very soon is not off the table, but support @ 1,966 (last week low) must hold, before 1,950 comes into play. Next resistance @ 1,995 2,000 and 2010

SP-500 spot Index, daily chart:
SnP_daily_2010926

Chart courtesy of StockCharts.com. http://stockcharts.com

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