3 min readS&P 500 (SDX):
As the holiday season wraps up and the New Year begins, the S&P 500 remains a fascinating index to watch. At present, it is trading just below the $6,000.00 mark.
Examining the technicals more closely, we can see that the price has rejected a minor internal resistance area, which now appears to have flipped into support around $5,900.00. Should the price move lower, it will be interesting to observe how the support levels near $5,700.00 hold. Notably, this area aligns perfectly with the 50% rebalancing zone on the Fibonacci tool.
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