In a new report, Goldman Sachs includes several charts that technical traders should be watching in coming weeks. Here’s a closer look at six charts from the report.
The first chart is a short-term look at the S&P 500. Goldman notes that the critical level to watch for the S&P is the 2,025-2,039 region. The report notes that the resistance will likely be difficult to break, but that a move above 2,040 would certainly make the index look “more constructive.”
The next chart is a longer-term chart of the S&P 500. Goldman draws comparisons between the recent market breakdown and the breakdown that occurred back in late 2011. If the previous breakdown is, in fact, an appropriate comparison, the S&P 500 will be back on track soon enough.
Much of the recent market worry has been…
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