The SPX is approaching a make-or-break moment. Over the next two weeks, we should gain clarity on whether the broader market is gearing up for new all-time highs, or if it's time to consider the possibility of a top forming — potentially signaling the onset of a more serious downside move (i.e., a bear market).
Key resistance levels are in focus. Any strong rejection from these areas will be interpreted as a sign of weakness and could serve as an early signal for a lower low in the making. The red line on the chart represents a critical threshold — price should not close below it on a daily basis (and ideally, not on a weekly basis either). Also worth noting: the 5400 level holds significant liquidity, making it a key area to watch.
For now, the approach is to remain cautiously long, as long as these levels continue to hold.
Key resistance levels are in focus. Any strong rejection from these areas will be interpreted as a sign of weakness and could serve as an early signal for a lower low in the making. The red line on the chart represents a critical threshold — price should not close below it on a daily basis (and ideally, not on a weekly basis either). Also worth noting: the 5400 level holds significant liquidity, making it a key area to watch.
For now, the approach is to remain cautiously long, as long as these levels continue to hold.
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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.