The SPX500 Index has suffered like all the other indices and markets from what looks like massive sell orders which cause the price to drop down, and now it seems the price has a Technical retracement, I measured the last downtrend on a daily chart with Fibonacci and find out that 61.8 level is a great one for continuation sell position, it's 61.8 Fibonacci level, But it's also a great supply level for sell position, I believe that the last low at 2350.00 zones is not the final destination for this bearish momentum and the price tends to reach 2150.00 zones, therefore I'll sell at the supply above and my target will be 2150.00 zones.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.