Here are some trend lines, channels, and fib levels for the S&P. It looks like the next level of support is around 3335. Note that the orange line is the 21 day MA.
Zoomed out a little
Zoomed out a little
Kommentera:
FYI, there is another support zone right where it has stopped at around 1:30pm.
Kommentera:
Solid teal line is the Feb ATH
Kommentera:
Bounced back up to the black trend line. Note that the gap down was not filled here in the SPX but was in the NASDAQ. I am also a little surprised that it gap down out of a descending wedge, as they are often a bullish pattern. This may be a case of the market building support before it closes that gap and breaks out to the upside.
