Summary
Stock indices were crushed on Thursday, with intraday rebounds simply sold. With regard to “potential” support, a retrace of 78.6% of the rally off the bottom of August 2024 target 5 339 for the S&P 500 (SPX), while a restart of 88.2% is 5,240. On the basis of the double, we were able to see a movement measured with 5,200 s. The SPX making a low fence corrective on Wednesday, we have bullish extent differences according to the percentage of SPX stocks greater than their averages of 20, 50 and 200 days. The 14 -day relative force index (RSI) retraced a divergence from the bullish impulse after having lived in the territory occurred. But the divergences on the momentum and the extent only indicate a possible reversal of trend. The price is the final referee. The weekly Graphic SPX shows support for the trend line, as well as an initial retirement of 38.2% of the upper market since October 2022, between 5,130 and 5,250. The longer term momentum (43 -week RSI) must contain the 45% area, because bad things often happen when there are drops of additional weekly Momentum. Until now, Price has followed the weekly Bollinger group lower than the drop. The SPX must resume the lower band for an initial purchase signal and go through the intermediary strip for confirmation. Thursday, the SPX fell 4.8%, its biggest decrease of one day since June 2020 (no
