Radar – Market Update

September 26, 2012
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Radar – Market Update – The SPX had the largest down day in 3 months and is approaching critical short-term support –
1.  Previous highs
2.  20MA
3. Short-Term Channel

Note: OBOS heading striaght down and has not begun to turn yet, and intermediate support is at 1408 (Intermediate channel, 50MA)

On the weekly – Potential Wave 5 of 5 (Long-Term Secular Top) in area of wave 5 Projections (1474-1494).  Note OBOS has turned lower with bearish divergence:

 

SPX Daily

Picture 1 of 2

 

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