SPX at major resistance
The S&P500 (SPX) is at a key resistance level. It is the 78% Fibonacci retracement of the September range, triangle resistance (descending trend line) and also completing an AB=CD equal leg move since September 7th. Intraday RSI has just reached overbought, so it will be interesting if we get a pivot/reversal of a continuation from these levels. A breakout would suggest a move to the 4572 level next. A reversal lower would send the index back to the 4480 level.
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.