Technical Update - S&P 500 and Nasdaq looking at June lows
Kim Cramer Larsson
Technical Analyst, Saxo Bank
S&P 500 seems to be set for a test of support at 3,738 and June lows at around 3,636. To demolish this bearish view short-term a close above 3,907 is needed.
Identical picture on Nasdaq 100. Rejected at the resistance at 12,046 closing a few points above 0.786 retracement. June lows around 11,037 is likely to be tested.
Closing above 12,063 will demolish the short term bearish outlook.
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