In today’s briefing:
- 6550-6569 S&P 500 Support Holding For Now; Still Bullish, But Late-October Consolidation Possible
6550-6569 S&P 500 Support Holding For Now; Still Bullish, But Late-October Consolidation Possible
- After 5.5-months, SPX broke below its 20-dayMA in decisive fashion on Friday.6569 has been our level that needs to break in order for us to believe a pullback has begun
- SPX made a low of 6551 on Friday (less than 20 points or 0.3% from our 6569 level), meaning it was NOT a decisive breakdown (in time or price).
- As a result, our near-term bullish outlook since our 4/22/25 Compass remains intact, and it will stay that way as long as the SPX holds above 6550-6569.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
