S&P500
The short signal did not last long: as soon as the price returned above 6720, the curve closed the signal. This further delays the formation of a trend reversal pattern, and a completely new situation may arise. In similar cases in the past, new highs were formed, but they quickly ran out of steam. Now, a more volatile, harder-to-trade period may follow, where it may be worth looking for positions against the momentum, i.e., watching for overbought and oversold conditions for entries. In the longer term, there is strong support around the 5938 level, while significant resistance is around 7500.
Resistance levels: 6,875; 7,188; 7,500.
Support levels: 5,937; 5,781; 5,625.
