SPX is approaching our first resistance at 2703 (100% fibonacci extension, 76.4% fibonacci retracement, horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 2508 (50% fibonacci retracement, horizontal pullback support). RSI (34) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.