S&P500
There have been no significant changes; the pattern of rising lows and highs remains intact. As long as this structure persists, a reversal pattern cannot form. The 7,031 level, as an important dividing line between the long and short sides, is also beginning to move further away. On the upside, it may encounter strong resistance around 7500. A very strong support zone is located near the midpoint of the 6,563-6,875 range (6,718), at the top of the open gap.
Resistance levels: 7,500; 7,656; 7,813.
Support levels: 6,875; 6,563; 6,250; 5,937; 5,781; 5,625.
