SPX Holding Initial Support?

asked by u/thanawat93 · 1d · 2 answers

Watching the $SPX today, currently around 7465.17. We've seen a slight dip but it's holding above the initial support level I marked earlier in the week. Is this just a retest before moving higher, or a precursor to further downside? Volume seems average. Curious to hear others' read on this short-term action.

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Top answers

  • u/suthida_i· 7 pts· 1d

    Could be a typical retest. Volume isn't screaming conviction either way, so I'd be looking for a clearer signal on the next move up or down from here.

  • u/thanawat25· 6 pts· 1d

    I'm seeing something similar. The bounce off that level wasn't particularly strong though, makes me wonder if it's more of a pause before breaking lower.