1338 is in my opinion the most important number in the $SPX. First line in sand under us. If we start coming in, these will be the “Shallow” dips I am looking to buy. On the 30 minute chart the 200ema is at 1334. Pay attention to 1334,1328 and 1321 as they are key fibs of the recent ripper. Then ultimately major support lies at 1307.
For the $SPY, On the 30 minute chart the 200ema is at 133.59. Pay attn. to 133.63,132.95 and 132.26 as they are key fibs of the recent ripper. Then ultimately major support lies at 131.42. Overhead 134.62 is MAJOR resistance, then the 20/50ema’s up near 135. If we can recover those, then lets talk about upside then.
$SPY 131.76 and $SPX 1315 represents a 3% Correction.
As I have been saying in my recent $SPY /$SPX reads, If $DX_F breaks over 79.73 pressure will come. Now we over next res of 80.06. Next resistance lies at 80.4.
I am including a few other charts, read the notes on those.