SPX Technical Analysis

Retesting lows.

The SPX riding S2 down to retest the recent lows at 820 (S1). It's impossible to know if S1 will hold or not. If we do rally off S1, I'll expect a rally to R2. If R2 can be overtaken, then a rally up to R1 setting up a trading range. If R1 is overtaken back up to 1000.

If S1 cannot hold, then the SPX will likely ride S2 down to around 750 where it will try to setup a new bottom.

Sincerely,
Steve Hunter, ULTRA Financial Systems LLC