Tag Archives: $SPX

2550 and 2600 Resistance

Here’s an updated support and resistance chart for the S&P 500 Index (SPX). 2600 is the next resistance level if 2550 can be cleared. Maybe a small stall in the 2565 to 2575 area. You can see the Twitter sentiment chart for SPX here. The breadth and bullish and bearish chart is here.

Market Overbought

Last week, sector sentiment gleaned from the Twitter stream had every sector positive. When this occurs a short term market top materializes usually within the following week. Once in a while, the sectors will paint another week with all of them in positive territory, then the top comes. Basically, when every sector is being bought […]