SPX key support is found at 2845-2850

I see 2845-2850 as I mentioned in a previous post as a major short-term support and pivot area. Holding daily closes above it could push the index back to the next resistance of 2900. Break below it and I give many chances of breaking below May lows.

If support fails to hold I expect prices to move below 2800 towards 2700. An early indicator or leading indicator could be Oil.

A break below 62$ and most definitely below 60$ will also be a big bearish signal for SPX imo. So keep a close eye on it…..

Have a great day everyone!!