SPX at .786
As you can see the SPX has closed the week at the 0.786 retracement of the entire move down from 2021 to 2022. This may be a point of support or it may be a fakeout, see the Schiff pitchfork and previous August high, which turned out to be a bear market rally.
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.