The Next Potential S&P 500 Support Zone
Volume Profile puts market volume on a vertical axis. This allow you to discover support/resistance areas. The widest part of the profile is called Point of Control (POC). This is the level of strongest potential support/resistance.
POC is at 5,790.00 which is close to a Fibonacci .382 retracement of the 08/05/24 to 12/17/24 rally.
These two level imply support in the 5,805 to 5740 range.
This level could be reached next week.
POC is at 5,790.00 which is close to a Fibonacci .382 retracement of the 08/05/24 to 12/17/24 rally.
These two level imply support in the 5,805 to 5740 range.
This level could be reached next week.
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