SPX testing the downside reversal key levelÂ
SPX pulled back from the 4000 again to test a confluence of the upside support 3750-3800. A bounce off this level is required for another test of a broadening wedge resistance 3910. A break above 3910 would indicate that the downside correction is over. As long as the SPX is above 3750 the uptrend is valid and you should target 4150. A break below the 3750 would open a complete downside reversal.
Note – Look for the buying positions with protection set at 45500
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