SPX500 Testing Key Resistance

Talking Points:

• Testing key trend-line off 12/29 high
• Head-and-shoulders scenario still remains in play
• Bias remains tilted down under 2050

S&P 500 is moving higher today, testing a downtrend line from December. The previously mentioned head-and-shoulders topping formation is still in the cards. Bias will become neutral on a move over 2050.

SPX500 4-hr: Nov ’14 – Present

---Written by Paul Robinson, DailyFX Research

To contact Paul, you can email him at instructor@dailyfx.com