Our mission is to help you obtain financial freedom. Checkout Our Youtube Channel Checkout Our Youtube Channel
Blog

S&P Rebounds at Key Support Level

Written By: ChartChamp

July 18, 2024

The S&P is also forming a bullish rebound at an important price level, flipping resistance into support around $557.66. There has been a lot of sideways price action above this resistance line with resistance around $564. I remain bullish for July and August, I think semiconductors recover and the markets continue to trend up higher.

SPY Approaching $551 Support

SPY lost support at $557, the next key support level is $551. The price action is still bullish above a key resistance line. I want to see the S&P hold above $551 here.

Follow me on social media: https://linktr.ee/realchartchamp

0 Comments
Inline Feedbacks
View all comments

More ClearValue Insights

Default Thumbnail

QQQ Has Rebounded Around $502.60

QQQ continues trading within this range, and has rebounded from the lower end of this range around $502.60. I have $510.31 and $513.40 as my resistance levels ahead, QQQ has struggled to climb above the yellow trendline since Nov. 15.

Read More
Default Thumbnail

SPY Trading Near $601 Resistance

SPY continues to trade near resistance around $601, and has already formed numerous rejections this week. SPY is currently trading above the yellow resistance line, and I would monitor to see if the price remains above $600.83. So far SPY is looking bullish and could trade above $600 for the day.

Read More
Default Thumbnail

RGTI Hit $3.47 Resistance

RGTI has reached my resistance target at $3.47, and there has already been some selling at this price level. I would be cautious of a selloff here, I think RGTI likely has a pullback in the short term.

Read More
Default Thumbnail

QQQ Has Rebounded Around $502.60

QQQ continues trading within this range, and has rebounded from the lower end of this range around $502.60. I have $510.31 and $513.40 as my resistance levels ahead, QQQ has struggled to climb above the yellow trendline since Nov. 15.

Read More
Default Thumbnail

SPY Trading Near $601 Resistance

SPY continues to trade near resistance around $601, and has already formed numerous rejections this week. SPY is currently trading above the yellow resistance line, and I would monitor to see if the price remains above $600.83. So far SPY is looking bullish and could trade above $600 for the day.

Read More
Default Thumbnail

RGTI Hit $3.47 Resistance

RGTI has reached my resistance target at $3.47, and there has already been some selling at this price level. I would be cautious of a selloff here, I think RGTI likely has a pullback in the short term.

Read More