3 min readS&P 500 (SDX):
After Friday’s release of the jobs market data, the S&P 500 declined, dropping back below $5,700. As I noted in previous articles, I was closely watching how the market would respond to this internal ascending trendline, which has now been broken.
Looking more closely at the technicals, if we fail to hold within these internal support zones, my focus will shift to how the market responds to the 50% level on the Fibonacci tool. I anticipate this level could serve as a strong support area for potential price adjustment.
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