Watch out folks. The recent action on The Market (the S&P) has not been good. It is suggesting downward price projections. The Market found support yesterday at 1206.50. If The Market breaks through that Trading Level, we may see The Market drop all the way down to 1178.25. All indications are showing weakness:

Now, let’s see what this all means:

1. The Market is close to breaking through a Trading Level (Support Level) at 1206.50.
2. The RSI (Relative Strength Indicator) is confirming this downward move.
3. The volume is rising on a downward price movements.
4. If The Market breaks through 1206.50 we could the make it down to the first Trading Level at 1178.25 or it may go all the way down to 1142.25.

Here’s my new updated Long term Trading Levels:

1288.50
1236.50
1206.50 (Important Level)
1178.25 (Important Level)
1152.25 (Important Level)
1132.25
1120.00

Updated Trading Points:
None

Click on image to enlarge!

Have a Profitable Day Trading!

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