High probability S&P 500 will test major support of 1950
S&P 500 3-Year Weekly Chart
Major points from the above candlestick chart for the S&P 500 Index:
- Major trend is up
- Intermediate trend is up
- Near-term trend is down
- Tentative break below the 50 moving average
- Tentative break below the support level of 2000
- Major support is around 1950 which is the 200-day moving average
- Next support zone is the October low
Bloomberg: Wildest Day in 2 Months for S&P 500 as Stock Swings Echo October
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