Don't Ignore This Chart!: S&P 500 Bounces off Bullish Support Line on P&F Chart

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S&P 500 Bounces off Bullish Support Line on P&F Chart

July 26, 2012 at 11:07 AM | written by Arthur Hill

With a big surge above 1350 today, the S&P 500 reversed its falling O-Column and started a rising X-Column on the P&F chart. This reversal creates support from the prior two O-Columns and the rising Bullish Support Line (blue). A move below 1320 would break these supports and turn this chart bearish.

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