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S&P 500 Short-term Technical Outlook Quickly Deteriorates

S&P 500 Short-term Technical Outlook Quickly Deteriorates

Paul Robinson, Strategist
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The S&P 500 is on the verge of confirming a breakdown from a multi-month channel. It could lead to the first lower-low in the uptrend in quite some time. If we see this develop, then the outlook could become favorable for would-be shorts. If we see a gap-down and fully recovery today, that would be construed as a short-term positive. Today may have a lot of meaning for the rest of the week and beyond.

For the full details, please check out the video above…

S&P 500 Daily Chart

S&P 500 daily chart

S&P 500 Chart by TradingView

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---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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