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by u/elena_schneider·18dQuestion

SPX Holding Initial Support?

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.

3 comments · 16 points

3 Comments

u/jhernandez·18d

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.

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u/azhao·17d

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.

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u/fernandez_lucas·17d

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.

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