S&P500 short-term support and resistance

[wp_lightbox_prettyPhoto_image link=”http://www.economicsignature.com/wp-content/uploads/2018/02/20180228-SP500.png” description=”From mid-December 2017 to January 31, 2018, there existed divergence between price and volume (see the yellow line), suggesting a reversal from the top. During the following 1-3 days, the short-term support should sit at the low 2,697 of the previous 3 days; if the price breaks down, there will be another drop. The short-term resistance is the small gap around 2,810. The long-term resistance is the large gap around 2,850.” source=”http://www.economicsignature.com/wp-content/uploads/2018/02/20180228-SP500.png” title=”S&P500 short-term support and resistance”]

From mid-December 2017 to January 31, 2018, there existed divergence between price and volume (see the yellow line), suggesting a reversal from the top. During the following 1-3 days, the short-term support should sit at the low 2,697 of the previous 3 days; if the price breaks down, there will be another drop. The short-term resistance is the small gap around 2,810. The long-term resistance is the large gap around 2,850.

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