{"id":62277,"date":"2013-08-06T10:29:56","date_gmt":"2013-08-06T00:29:56","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/08\/06\/sp-500-at-critical-levels\/"},"modified":"2013-08-06T10:29:56","modified_gmt":"2013-08-06T00:29:56","slug":"sp-500-at-critical-levels","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/08\/06\/sp-500-at-critical-levels\/","title":{"rendered":"S&amp;P 500 At Critical Levels"},"content":{"rendered":"<p>The Tech Wizard notes the US S&amp;P 500 futures price has been in a strong uptrend for the last 12 months. After a sell-off in May the SP bounce back strongly to recover all the losses and put in a new high. We are now at critical levels and push through 1720 and a weekly close in the next few weeks above 1740 will target a push to 1800.<\/p>\n<p>Rejection from this level isn&rsquo;t a good sign at all, the Wiz suggests, and a break back through 1700 on a weekly closing basis will trigger stop loss selling, targeting 1600.<\/p>\n<p>The MACD is showing divergence between the May high and now but technical analysis is a windsock not a crystal ball. Only time and the breaking of key levels will tell&#8230;<br \/>\n&nbsp;<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/SP(1).jpg\" style=\"height:319px;width:620px\" \/><br \/>\n&nbsp;<\/p>\n<p><em>The TechWizard is the pseudonym of Scott Morrison, whose experience in financial markets exceeds twenty years. Morrison operates his own website nowadays at www.techwizard.com.au. All views expressed are the TechWizard&#039;s, not FNArena&#039;s (see our disclaimer).<\/em><\/p>\n<p><strong><em>Technical limitations<\/em><\/strong><\/p>\n<p><strong><em>If you are reading this story through a third party distribution channel and you cannot see charts included<\/em>, we apologise, but technical limitations are to blame.<\/strong><\/p>\n<p><em>Find out why FNArena subscribers like the service so much: &quot;<a href=\"http:\/\/www.fnarena.com\/index4.cfm?type=dsp_newsitem&amp;n=29EB960D-9DFF-C00E-7F6B464E5D52E250\">Your Feedback (Thank You)<\/a>&quot; &#8211; Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The TechWizard suggests 1740 on the upside and 1700 on the downside will spark strong moves up or down respectively for the S&amp;P 500 futures.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[26],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62277"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=62277"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62277\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}