S&P 500 Technical Analysis
As mentioned in our previous analysis, the price has dropped approximately 450 points.
Market Update:
Exchange-traded funds and equity futures are higher pre-bell on Friday amid reduced government shutdown risk.
Market Outlook:
The price is expected to consolidate between 5,570 and 5,640 until a breakout occurs.
A 1H candle close above 5,570 will support a bullish move toward 5,608 and 5,640.
However, a close below 5,569 will confirm a bearish continuation toward 5,527 and 5,503.
Key Levels:
Pivot Line: 5,569
Resistance: 5,608 | 5,640 | 5,675
Support: 5,528 | 5,503 | 5,413