S&P 500 Weekly Mo Declining
09/28/2009 9:15 am EST
The weekly chart of the S&P 500 shows that the RSI3 is declining slightly from moderately overbought levels. A lower close this week would suggest another one to two weeks on the downside. Intermediate trend is still positive. There is strong Fibonacci resistance at 1100-1120, with weekly support in the 1000-1020 area.