Technical Update - US Indices
Kim Cramer Larsson
Technical Analyst, Saxo Bank
The S&P 500 Index closed back below the 200 daily SMA and minor support at 4,446 indicating return to bearish scenario after being rejected at the resistance at 4,590.
If S&P500 closes below there is not strong support before 3,725
US500 cfd (future)
The selloff is continuing this morning in the futures/US500 cfd. Crucial support area around 4,262-4,220 is likely to be tested
After being range bound for a few days between 14,481 and 15,166 Nasdaq 100 was hit by a selloff Friday pushing the Index to close below support. Next support which can be crucial is around 13,945. If closing below next strong support is not around 12,950
The future /USNAS100 bear move is continuing this morning approaching crucial support at around 13,838. Next strong support around 12,667
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