2 TRADING CHARTIST

[TREND1]

5/3 CHARTIST HOTLINE

Thursday, May 03, 2018

The Dow plunged almost 400 points in the early going, but reversed course to finish 5 points higher.
The S&P 500 also got hit hard early and it bounced back losing just -.23% on the day.



Both of these major indices successfully tested their downside support areas in today’s session.
The Dow found support again at approximately 23500 and the S&P 500 at 2580.
The S&P has held this support zone on five different occasions since February.
It remains locked in a trading range that has been in effect since early April.
The upper end is at 2785 and lower side at 2580.