The S&P 500 has failed to hold gains above 1366 on two occasions recently, suggesting downside potential in the near term. The author expects the S&P 500 to decline to test its 38.2% retracement level between 1330-1320 in the coming week before finding support and rebounding from this area, marking the near term bottom of this correction. The document provides contact information for Jeffrey Green of Green Financial Group and notes that any opinions expressed are those of Mr. Green.

1. 6363 Woodway Dr
Suite 870
Houston, TX 77057
Phone: 713-244-3030
Fax: 713-513-5669
Securities are offered through
RAYMOND JAMES
FINANCIAL SERVICES, INC.
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Green Financial Group
An Independent Firm
Market Update
The S&P 500 (SPX) has tested 1366 on the upside twice, and not had any success even hanging around this level,
as it’s been pushed down quickly both times. This doesn’t bode well for an upside resolution in the near term, but
it’s certainly a possibility.
The lack of rebound energy right here brings up the possibility that the SPX is going to drop down and explore the
full 38.2% retracement level, down around SPX 1330. There is also a level a bit lower, at SPX 1320, that could
briefly attract prices, but the SPX, in my opinion, should rebound quite easily from this SPX 1320 – 1330 area.
So my guess is the SPX is going to erode further early this week to this full retracement level at 1320 – 1330, but
that should mark the near term bottom for this corrective period.
Jeffrey A. Green
Founder
Registered Principal
D-713-244-3030
F- 713-513-5669
6363 Woodway Dr., Ste. 870
Houston, TX 77057
www.greenfinancialgrp.com

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