S&P500 – Rising trend line exposed below 100-DMA

TVC:SPX   S&P 500 Index
Friday’s sell-off if followed by a failure to hold above 100-DMA of 2120 today would open doors for a further drop towards 2095 (rising trend line coming from Feb low and June low).

On the higher side, breach of resistance at 2147.6 (Aug 2 low) could yield a further retracement to 50-DMA around 2164.

However, the index appears a sell on rise trade unless 50-DMA hurdle is breached on daily closing basis.


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