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Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!

Tuesday, April 08, 2014

SPX -- Daily Chart

I am spending more time on the SPX short term, but the chart is interesting. SPX Daily
The market is still hovering around 1850. There is a confirmed short run downtrend
underway with a slight oversold reading. But as you can see, SPX 1850 has turned from
being a resistance level into support. There was no reassuring bounce today, but some
players will like the fact that the SPX is holding the new support and has not broken down.
Amusing stuff.

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