FOR 7/14 SPX resistance, pivot & support
Resistance R3 1980.05, R2 1974.36, R1 1971.01
Pivot Point 1965.32
Support S1 1961.97 , S2 1956.28, S3 1952.93
For Weekly 7/14-7/18 SPX weekly resistance, pivot & support
Resistance R3 2015.00, R2 1999.61, R1 1983.64
Pivot Point 1968.25
Support S1 1952.28, S2 1936.89, S3 1920.92
Thus far we are counting this potential downtrend with three Minor waves. Minor wave A appears to have completed with an a-b-c down (1959-1974-1953). Minor wave B looks to be doing an a-b-c up (1970-1960-1969 so far). Resistance should remain at the 1973 pivot range, and support at the 1956 pivot range until it breaks.
Support for the SPX remains at 1952, 1945, 1930 and then 1900 resistance at 1985 and then 2000.Best to your trading what sets up to be a wild week ahead. Best to your trading!
Tuesday: Retail sales, the NY FED, Export/Import prices and Business inventories. Wednesday: the PPI, Industrial production, NAHB housing and the FED’s beige book. Thursday: weekly Jobless claims, Housing starts, Building permits, and the Philly FED. Friday: Consumer sentiment, Leading indicators and Options expiration. FED chair Yellen gives her semi-annual report to the Senate on Tuesday, and House on Wednesday. Also on Tuesday FED general counsel Alvarez testifies in Congress. It looks to be quite an interesting week. Best to your weekend and week!
SPX DAILY CHARTS
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