S&P 500's selloff over?

By Julian Yosovitch

September 26, 2014 • Reprints

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The S&P 500 (CME:SPZ14) has shown weakness in recent sessions.

We believe that at the minimum level between 1960 (or potentially the 1945), the current selloff should be over. From here, the bullish movement will be resumed leading the index back to higher zones to somewhere inside the bullish channel toward 1995 points at first instance and then 2030 points.

Falls below 1945 will imply a sign of weakness and leave the index vulnerable to further selloffs back down to 1925-1895, within the previous lows and key medium-term support for the S&P 500. Let's take a look at the chart.