Updated S&P 500 and Transport Charts

7/31/2019 Updated S&P 500 and Transport Charts

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Fusion Analytics Research Partners LLC 2012 FusionAnalytics P 212-661-2022

July 24th 2012 Equity Market Review

Fundamentally Driven

Technically Conrmed

As seen in the chart below, and highlighted by the black arrow, the S&P 500 Index today is breaking below its

uptrend line (green line) that has been in tact since the June 4th lows. This breakdown comes ater trading up

into the 1,360 - 1,375 resistance zone (red shaded lines and arrows) and ailing once more to eclipse it.

There is minor support near 1,325, however below that support level, the next support area is down near 1,307.

Given August is typically a week month we would bet the lower support is the best near term gauge as to where

the S&P 500 is heading

S&P 500 (SPX) - Daily Chart

S&P 500 breaking

uptrend line


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July 24th 2012 Equity Market Review

Fundamentally Driven

Technically Conrmed

Transportation Index (TRAN) - Daily Chart

As seen in the chart below, the transports have clearly broken downward rom a long triangular trading range(red lines). The breakdown occurred yesterday but was exaggerated by United Parcel Service (UPS) statements

that revenue growth stagnated as the global economic outlook grew more cloudy. The near-term downside

target is 4,700 (green arrows) on the transportation index, however given Augusts proclivity or weakness 4,500

is probably a better near-term benchmark.

UPS cited increasing uncertainty in the United States, continuing weakness in Asia exports and the debt crisis in

Europe as leading actors in its slow business.

Clearly the transports, and UPS in particular, are on the ront lines o economic activity, so their respective price

weakness certainly throws up a cautionary fag or equity holders..


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Technically Driven

Fundamentally Conrmed

Updated S&P 500 and Transport Charts

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