Nick Nasad
All posts from Nick Nasad
Nick Nasad in Nick Nasad,

S&P500: Index Slides Through Support and Out of Sideways Trading Range

Heightened risk aversion dominated today's market and the S&P500 has moved out of its sideways trading action with a push through the 1811/1809 support zone.

Next support comes in at the 1800 level, though there are some pivots around 1804 that go back to December 18th and is where the index is currently finding some support. All in all, the end of this week has introduced some angst into markets, with the Chinese manufacturing data setting off a chain reaction of worries, that has investors and traders fleeing "risk" assets towards safety.