We believe that the SPX will go lower and this drop can start even today.
Right now the SPX is trading below EMA100, which held as support on the 13 May. If the SPX closes below this level, more drop ahead for sure...
Where to next?
We are looking at support first around the 0.382 Fib. retracement level or 2723.9, followed by 0.618 Fib. which sits at 2580.3.
Now, this will take some time to develop so we will track the charts, but we are certain of more red, more drop ...
Thanks a lot for reading, your time is appreciated.
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This is not financial advice.