S&P500
The index closed last week’s trading session with a gap down and a significant sell-off, thereby confirming the trend reversal and a lower swing high. There is still room for the decline at this point. It is worth following the red line, which represents the ideal downtrend. Ideally, the decline could extend as far as halfway down the uptrend that began in April. This could mean a low of around 7,000.
Resistance levels: 7,813; 7,969; 8,125; 8,438
Support levels: 7,188; 7,031; 6,875; 6,563; 6,250; 5,938.
