SPX500 support 3419-3501, 3142-3219- resistance 3664, 3734, 3906. Nasdaq support 10589, 9206-9446 - resistance 11119, 11861, 12668. Dow support 28323, 26982-27583, 25371- resistance 29794, 30822, 32272.
The S&P 500 breakdown to fresh yearly lows remains vulnerable to further losses in the days ahead. From a trading standpoint, rallies should be limited to the August
IF price is heading lower on this stretch with a break from here exposing 3419-3501. I’ll publish an updated S&P 500 Short-term Technical Outlook once we get further clarity on the near-term SPX500 technical trade levels.shows traders are net-long the S&P 500- the ratio stands at +1.82 – typically aShort positions are 5.56% lower than yesterday and 7.97% lower from last week
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests SPX500 prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current positioning and recent changes gives us a stronger S&P 500-bearish contrarian trading bias from a
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