SPX Analysis:
The $SPX struggled to break and stay above the 20MA at 6674 today. We hit 6593, very close to our key lower support at 6592 we posted for you yesterday. The overall market felt weak and choppy. The tariff war with China is still ongoing and might persist for a while, adding to uncertainty. We’re ready for a weak month of October. $VIX is also elevated today and we have seen bunch of flow into VIX calls for October and November. When VIX calms down, we will see stock bouncing again.
Key SPX Levels to Watch:
Resistance: 6,642 / 6,680 / 6721
Support: 6,593 then 6,554
BITCOIN Levels
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