Support Group

I have a tale to tell
Sometimes it gets so hard to hide it well
--Madonna

Should the downward move in the S&P 500 (SPX) continue, what does chartgazing suggest about significant support below?

Pulling the time horizon back to a 3-4 year frame, important support appears to rest around SPX 1225 (about 60 pts below current levels). This level reflects the intersection of a horizontal and trendline support dating back to the Spring 2009 lows.

If/when we get there, SPX 1225 may constitute a meaningful battleground bulls and bears to slug it out.

position in SPX