The battle for 1800

13. Feb. 2016

1800 marks the most significant S&P level we've seen in a very long time. From 2013 to present day, price has respected this level more than ten times on the weekly chart alone. After rallying off of this level in January, price has returned and seems to be rallying yet again. But don't be fooled. We are still in an obvious bear market, and the more price flirts with this 1800 level, the more likely it is that we will see a breakdown. As of now I'm neutral on the market. However, I do believe that 1732 is more than likely to print before 2000. Let me know what your opinions are!