S&P 500 looking for support at 3335 level?

26 Eki 2020

Here are some trend lines, channels, and fib levels for the S&P. It looks like the next level of support is around 3335. Note that the orange line is the 21 day MA.


Zoomed out a little

26 Eki 2020

Not

FYI, there is another support zone right where it has stopped at around 1:30pm.

26 Eki 2020

Not

Solid teal line is the Feb ATH

26 Eki 2020

Not

Bounced back up to the black trend line. Note that the gap down was not filled here in the SPX but was in the NASDAQ. I am also a little surprised that it gap down out of a descending wedge, as they are often a bullish pattern. This may be a case of the market building support before it closes that gap and breaks out to the upside.