SPX is facing resistance from pivot, potential reversal.

Price is facing bearish pressure from our pivot, which is in line with our 78.6% Fibonacci retracement and -68 fibonacci extension. We see a medium probability bearish scenario below our pivot at 3876.70, with our first support at 3824.40 as a possible target. Failure to hold below our pivot would see price swing the other way towards 1st resistance at 3912.0. Stochastic is facing bearish pressure from our resistance at 96.73 as well, in line with our bearish bias.

Pivot: 3876.70
Supporting Points:
78.6% Fibonacci retracement and -68 fibonacci extension

1st Support: 3824.40
Supporting Points:
61.8% fibonacci extension, 38.2% Fibonacci retracement and graphical pullback support

1st Resistance: 3912.0
Supporting Points:
100% Fibonacci extension
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