SP500 daily update - Supports and Resistance.

FX:SPX500   S&P 500 Index
345 2 8

As per my previous posts - I think it corrects in the next few weeks.

Key metric: a close below 2020

This post is to show the areas of supports and resistance in close:

2107 Minor
2144 Very important

2020 Important
1960 (around the annual pivot )
1900 Very Important
1850 Minor
1800 Minor
1700 Very important
Also, looking back for the last year, the spx has broken its fomc (lod) 1-5 days after the announcment. Only two times the spx just kept grinding higher where it did not break its fomc lod before the next fomc announcement, June & December 2014. Trading into resistance after fomc is quite common for the last year.
+2 Reply
The 100dma on daily has been an important support. Historically, Fed's comments have turned market at this level and it seems to be important for algos. The slack between price and the ma has been squeezing since beginning of the year. A break will be the first since Oct last year.
+1 Reply
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