S&P-500 Outlook For October 14, 2014

Currently at a 4-month low, SPX is below all its critical longer-term moving averages after a long time. There may be some support @ 1.860 and 1.840. Given the market’s “oversold” condition, we may see some rebound and retest of the August lows and 200-day sma @ 1905 shortly, keeping in mind that the trend is clearly down.

SP-500 spot Index, daily chart:

spx

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

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