SPX - Major Resistance Reached, Now What?
$S&P 500(.SPX)$ - Major Resistance Reached, Now What?
Back in March 2023, when I was posting exclusively on X, I identified $4,607 as a critical level. The market reached it on July 31st of that year and immediately initiated a 10% correction. The pattern repeated last year; in September, I highlighted the importance of $6,109. After slightly surpassing that level in January 2025, a major downturn followed, as we all remember.
This brings us to the top this past Thursday at $6,427, which holds a similar technical significance. With seasonal trends also pointing toward a bearish continuation, let’s study the chart and the four key indicators we selected last week to navigate this likely reversal.
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