SPX bounces 36% off $1.00

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

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• SPX pulled back and tested the $1.00 zone as new support and bounced perfectly from that area, now up 36%.
• TA-wise, there are no bundles to do. The levels of support are at $1.00 and then $0.75, but these are a long way off price now.
• So, what we're looking for here is if SPX puts in a new high or a lower high. Of course, the next main resistance is the prior all-time high at $1.60.
• What's somewhat strange is that this move-up has come with low volume. Which usually isn't great, but it's not uncommon for SPX to pull that kind of move.

• Next Support: $1.00
• Next Resistance: $1.60
• Direction: Neutral
• Upside Target: $1.69
• Downside Target: $1.00

Cryptonary's take

Congrats to those who held all of their positions. SPX has rebounded even more strongly than some of the believers might have thought. The key over the coming week will be if price can put in new highs or not and that may be down to Trump on Monday. That's the watch here, new highs or lower highs, and that'll determine the next set of TAs.