#SPX Update 7-18-2022

19 Tem 2022

SPX showed a strong Gap up after the weekend with a continuation on some bigger Bank ER numbers. It failed the breakout attempt above 3900 early and stayed in range throughout the morning. Once SPX fell below our 3880 support, we saw a big drop with catalyst from AAPL news and Housing Numbers. AAPL has been relatively strong and finally seen a big day of weakness which fueled the market to drop. The pops were being sold off into close. For tomorrow SPX needs to hold 3838 level or we can see a quick move to 3800. Below we can see 3778, 3760, 3741 below. SPX will need to break todays high's to set up for a move to 4000.