Are S&P Bulls Letting Up? Market Pulse
S&P Futures are beginning to fumble at current levels. Price has dropped for another retest of support between 2493 and 2484. If price clears that level to the downside, then I fully expect to see a continued price decline with downside targets in the 2462 territory.
Gold Futures have spiraled lower in this week’s trading session dropping right into pre-defined support between 1300 and 1290. This area also converges with the 50 day moving average, so I am expecting a bounce out of this area of long interest at the very least. I will be monitoring both US Dollar as well as the the S&P, looking for perceived weakness prior to confirm this move.
AGRX is beginning to climb in pre-market trading pushing for that 4.00 mark. Notice in the chart below that price has a good size gap to fill over 4. Though the gap actually starts lower, I believe that 4 is the critical break. So I also think that if bulls can gain traction over that level with any supportive volume that we could easily see a 5 to 10% breakout.