Talking Points:
- Support: 2082.40, 2063.40, 2040.10
- Resistance: 2115.90, 2129.60, 2137.10
- For more, visit our SPX 500 page
The SPX 500 dipped to the lowest level in a month but losses failed to hold onto losses, recovering back above monthly trend support. A daily close above resistance at 2115.90, the July 31 high, exposes the June 22 top at 2129.60. Alternatively, a turn below trend line support at 2082.40 clears the way for a challenge of the July 27 low at 2063.40.
KEY UPCOMING EVENT RISK:
13 AUG 2015, 12:30 GMT β US Retail Sales (MoM) (JUL) β Expected: 0.6%, Prev: -0.3%
14 AUG 2015, 12:30 GMT β US PPI (YoY) (JUL) β Expected: -0.9%, Prev: -0.7%
14 AUG 2015, 17:00 GMT β UofM US Consumer Conf. (AUG P) β Expected: 93.6, Prev: 93.1
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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