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David Settle, CMT, Featured In See It Market Discussing Support Levels For S&P

David Settle, CMT, wrote an article that was featured on See It Market on Monday discussing a potential support level for the S&P around 2600. 

In the article, he describes the S&P 500 as "weakly bullish" and says the index might be gathering momentum toward a sustainable upturn. 

"Usually, the intermediate line will make a run towards the chart’s midpoint from low levels where it experiences a hiccup," Settle wrote. "The S&P 500 is testing 17-day EMA. Next stage will be for a test of the 30-day SMA where the next near-term high may be for producing the expected intermediate hiccup." 

The bounce is illustrated in the chart above.

Read the full article here: Weekend Stock Market Outlook: Is the Rally Targeting 2600?