For the S&P 500, 1,900 is the key level

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The S&P 500 managed to close positive on a lighter trading day and gave it a chance to move back to its 50-day moving average. With the MACD and RSI in oversold territory, it is plausible. The trend reversal is still in play so any move up will need to be with volume. The area of concern is 1900. This is where the trend line and major support happen to be. My chart analysis predicts that the market will close down and possibly give back the gain it obtained in Monday's trading. With the VIX trending upward, it increases the chance of the market moving lower again soon.

Dwayne Tucker is an individual investor in Akron, OH. He began is journey in 2006. After numerous investment mistakes, he followed a simple method to make consistent gains. He credits his achievements to hard work, self discipline and his hunger for education. From his experiences, he helps other beginning investors clear the difficult hurdle by teaching his simple technique. Dwayne helps run www.wincrease.com , which is dedicated to helping beginning individual investors.


This article was originally published on MarketIntelligeneCenter.com



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , stocks

Referenced Stocks: SPY

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