Intermediate trend is up for the S&P 500 until proven otherwise
The chart pattern today (Monday, April 15) indicates caution but the intermediate trend is still up until there is a confirmed break below the intermediate trendline. This is near the support zone of 1530 to 1540.
There are three trends to consider for any index or stock: up, down or sideways. And there are three time frames to consider for a trend: near-term trend, intermediate trend and major trend.
Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.
© 2013 TradeOnline.ca