MACRO VIEW: S&P500 REESTABLISHES DOWNWARD RISK
IN OUR PREVIOUS IDEA ON SNP WE STATED THAT THE INDEX CANCELLED DOWNWARD RISK, AS IT TRADED ABOVE 1ST STANDARD DEVIATIONS FROM 1-YEAR AND QUARTERLY MEAN AT ABOUT 197
HOWEVER, MARKET PROVED US WRONG!
PRICE HAS FALLEN BACK BELOW THE KEY LEVELS, THUS IS NOW OPEN TO MORE DOWNSIDE
AT THIS STAGE WE CAN ONLY CONCLUDE THAT THE TRUE CANCELLATION OF DOWNWARD RISK WILL BE ONLY TRIGGERED BY PRICE TRADING ABOVE 1-YEAR AND QUARTERLY MEANS, NOW CONVERGED TOO AT 205
HOWEVER, MARKET PROVED US WRONG!
PRICE HAS FALLEN BACK BELOW THE KEY LEVELS, THUS IS NOW OPEN TO MORE DOWNSIDE
AT THIS STAGE WE CAN ONLY CONCLUDE THAT THE TRUE CANCELLATION OF DOWNWARD RISK WILL BE ONLY TRIGGERED BY PRICE TRADING ABOVE 1-YEAR AND QUARTERLY MEANS, NOW CONVERGED TOO AT 205
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