Aussie Signal Off S&P Support By Marco Hague About this article: S&P futures reversed during the last session after a break of 1098 highs. The move down from 1098 to current levels could be a technical correction of an uptrend. On the one-hour S&P futures chart below, there is a support zone around the 1080-1083 level, from where the global market may bounce higher again. The 1080-1083 area is the 38.2% Fibonacci retracement level of the wave III) distance. This is a typical wave IV) pullback zone, where traders may start to look for new long trading opportunities in wave V). If the current wave count is correct, the market should break through the 1100 area over the next few sessions for a move into the 1120 target zone, where the next top could be made. When the global markets are moving higher, traders usually take advantage of the opportunity to earn swap interest in high-yielding currencies, such... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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