S&P500
After a prolonged period, the uptrend broke down, and last week it left a small downward gap; the fact that this gap remains open indicates that the market is weak and looking to correct itself. It’s worth following the red line, which marks the ideal downtrend. Ideally, the extent of the decline could reach halfway down the uptrend that began in April, but in the short term, if the price falls below 7,653, it’s worth targeting the 7,500 and 7,188 levels.
Resistance levels: 7,813; 7,969; 8,125; 8,438
Support levels: 7,188; 6,875; 6,563; 6,250; 5,938.
