Boring_Trader

S&P 500 rebound???

CURRENCYCOM:US500   US 500
US500 retested the 3,942 level again last week. Prices eventually settled further lower at 3,878.40, for an approximately 170pt or 4% drop. Going forward, a daily close below 3,870 will further extend this selling pressure towards the 3,760 support. Deadly crosses in EMA10-EMA20 and MACD further suggest this possibility. However, a daily close above 3,920 may provide a temporary relief rally with resistance seen at 4,000 or 4,080.
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