This range for the S&P 500 'makes me very nervous,' technician says [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
This range for the S&P 500 'makes me very nervous,' technician says The S&P 500 The benchmark index has rebounded 17 percent from its lows late last year and sits just over 50 points from its Dec. 3 high. Its next move higher is going to be harder to come by, said Todd Gordon "This area right here makes me very nervous because there's actually four significant technical levels here," Gordon said Thursday on CNBC's " Trading Nation The S&P 500 broke above and below that long-term trend line throughout the fourth quarter, only resurfacing above it earlier this month. Its failed attempts to firmly go above that line has formed a quadruple top, Gordon said. "This is going to be a deadly battleground," said Gordon. "I want to short it but I want to be very diligent and get a good price, stop out above 2,900, but again, don't think is going to be an easy trade. I think we sell off but it's going to be very volatile for a period while we decide what to do here." Erin Gibbs, portfolio manager
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