S&P500
The index reached its target price (7,500), which was an important natural level to begin with. A correction began from this level, but of course, this alone is not enough to signal a structural shift. The market could easily fall by a few percentage points. A lasting change may occur only when the longer-term uptrends also break down. 7,031 could be an important retest level due to previous peaks. A very strong support zone is located halfway between the 6,563-6,875 zone (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.
