SPX bounces from $0.90 to $1.50

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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• A really nice bounce from the lows at $0.90 and back to all-time highs really swiftly.
• The price was rejected into the all-time highs, but we've seen the $ 1.20s now provide support.
• Another positive is that the volume has been good, and this is likely one of the main reasons why we've seen positive price action.
• If the price can hold at this higher range between $1.30 and $1.60, this likely sets up a breakout to the upside in the coming days/weeks.
• The cause for concern would be if the price breaks below $1.00. That would confirm this as a double top. However, we don't see this as happening/likely.

• Next Support: $1.00
• Next Resistance: $1.60
• Direction: Bullish
• Upside Target: $2.00
• Downside Target: $1.00

Cryptonary's take

Overall, this has really shown phenomenal strength in a wider market that has seemingly struggled. If SPX can hold the lows/be bought into at the lows, then we expect a breakout of $1.60 to come in the near term. This may be days, it might be a week or so.

But overall, we've seen strength here. The bounce from $1.00 and straight back to $1.50 was crazy. PS - We'd be very surprised to see $1.00 broke, let alone the Yellow Box be touched. Deleting Yellow Buy Box as we speak.