The S&P 500 has gained support from lower levels, 4144 in particular. This seems to be a relative low for now, and we have called this level out multiple times here in these reports. We are currently seeing a bit of a pivot, after some volatility, however volume looks weak and the Kovach OBV remains unfazed by the bounce. Thus, we are skeptical of this small rally, but if it continues, 4306 is the level to break befoore considering higher levels. If the bear momentum continues, then 4144 should continue to provide support. If not, we expect 4122 to be a floor price. If this level breaks, we are likely to freefall.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.