S&P 500 Intraday: Key resistance at 2785.00
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The downside prevails.
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Pivot (invalidation): 11670.00
Our preference
Short positions below 11670.00 with targets at 11400.00 & 11210.00 in extension.
Alternative scenario
Above 11670.00 look for further upside with 11750.00 & 11810.00 as targets.
Comment
The RSI is capped by a bearish trend line. The index is trading in a bearish channel.
S&P 500
Key resistance at 2785.00.
Pivot (invalidation): 2785.00
Our preference
Short positions below 2785.00 with targets at 2731.00 & 2710.00 in extension.
Alternative scenario
Above 2785.00 look for further upside with 2810.00 & 2831.25 as targets.
Comment
The RSI is mixed with a bearish bias.
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