SPX: Poised to Seek Lower Support Levels.

• The bear market persists on the SPX, as it lost our support at 4,015 and there’s no bottom sign on it yet;
• Now the 4,015 is a resistance area for any bullish reaction. In addition to his resistance, there is the 21 ema and the 4,060 (our previous support). These key points reinforce the mid-term bearish thesis;
• In the lack of bullish reaction, the index is heading to the 3,949, the next support level;
• The SPX triggered a bearish pivot point this week (a lower high/low) when it lost the 4,060. It would take a very good and powerful bullish reaction to reverse the bear trend, and so far, there’s no technical evidence pointing to that direction. I’ll keep you updated on this.

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