Chart of The Day – June 10, 2020

By: Chris Wenner in Charts 06/10/2020

Below is a 2-yr, weekly chart of the S&P 500.  Other than Fibonacci levels, here are a few levels that we see as important:

  1. The incredibly steep uptrend from the lows around 3177 (red). While this uptrend changes daily, it’s worth a daily look
  2. The bottom of the gap down in late-February @ 3259 (green)
  3. The top of the gap down @ 3328 (yellow)
  4. The all-time-high @ 3393.52 (pink)

While not drawn here, 3200 also looks meaningful. During both the end of December, 2019, and January of this year, SPX found some rough support here.

CW

 

By: Chris Wenner

Managing Director

Jonathan Molchan

Wennco's innovative strategies and robust OCIO capabilities are designed for RIAs, Family Offices, and high-net-worth individuals.

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