3 min readS&P 500 (SDX):
Following Friday’s release of the NFP data, the S&P 500 has continued to decline. The price has fallen back below $6,000 and is now hovering just above $5,800.
A closer analysis of the technicals reveals an internal ascending trend line that aligns with price rebalancing on the higher timeframe at the 50% level on the Fibonacci tool. This also coincides with the demand zone identified between $5,600 and $5,100. I will be watching closely to see how price trades out of these areas if we continue to trade lower.
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
