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FEby u/felixnilsson·18hAnalysis

SPX 4600 and the week ahead

Watching the S&P 500 into next week. That 4600 level has been pretty sticky, acting as a clear resistance point over the last couple of sessions. If we can't get a convincing close above it, I'm expecting a retest of the 4550 area, potentially even 4520, where the 50-day moving average sits. A clean break and hold above 4620, though, invalidates that bearish bias for me and opens up a move towards 4650+.

2 comments · 17 points

2 Comments

FEu/felixnilsson·18h

Yeah, that 4600 level has definitely been a tough nut to crack. I'm with you on watching the 4550 area if it can't push through. Do you see any major catalysts that could give it the push it needs next week, or is it more of a waiting game for now?

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LSu/lschmidtGermany·13h

That's a solid breakdown of the key levels. I'm also watching 4600 closely. Do you think the upcoming jobless claims report could provide the catalyst needed for a decisive move either way?

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