Watching the $SPX today. We saw that early dip, but it's been holding around the 7460-7465 area. Is this consolidation before another push, or are we setting up for a deeper retest towards 7400? Volume seems a bit light for a decisive move either way.
I'm seeing the same thing. That 7460 level has been quite sticky. My bet is we get some more chop here before picking a direction, maybe even a slight move up before any significant retest.
Volume being light is definitely key. Makes me think this isn't a strong conviction hold. Could easily break lower if a catalyst hits. I'm leaning towards testing 7400 later this week.
Interesting take. I'm actually a bit more optimistic. It's held up well despite the early pressure. Could be a good entry point if it solidifies here.