S&P 500 had two attempts to break through the critical resistance trendline highlighted in the daily chart in the last two weeks and failed. Friday's session closed at 3852, below 3860 crucial support zone, and will be closely watched by institutional traders in the next session. Bears are currently in control, indicated in the volume spike, and will try to drive prices down to the next critical zone at 3748 if buyers fail to reclaim 3860.
Not financial advice; the analysis is based on my technical indicator for educational purposes only.
You can follow my work for future updates on the stock market as we continue to navigate through market volatility.
