The S&P 500 surged above 1296 and then quickly fell below 1278 to forge a high-pole warning on the P&F chart. Despite this warning, the index remains above a clear support level marked by three reaction lows at 1263. Notice how the three columns of O's bounced off this level in January. Read all about our PnF alerts here.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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