Wednesday, July 3, 2013

Meridian Market Update

Two possibilities given the interest rate backdrop and equity market structure, should the SPX fail at finding traction for a third time since making all time highs at the end of May. Certainly, we would consider the scale of the 1994 equity market cascade the more likely outcome. With that said, long-term support from the Meridian is now found ~ 1560 which was initially tested and held in June.

Break below that level coming into August and the bears would roar once more.  


Click to enlarge images




Click to enlarge images