S&P 500 recovery trend intact
· Despite a sideways reversal of the accelerated trend line from mid-month, yet another high level digestion above support seen at 1931.75, with a firmer area at 1922/20.
· This leaves bias still higher, to aim for targets at the swing highs/ retrace at 1968.5/ 1971.0 early this week.
· Overshoot threat is to 1978/79, maybe 1992.5 for latter October.
WHAT CHANGES THIS?
· Below 1922/20 eases bull risks; through 1885.75 signals a neutral tone, only shifting negative below 1872.5/70.0.
See full report with levels & latest screencast here: http://members.marketchartist.com/Daily/sp500.pdf
4 Hour S&P 500 December Future Chart