SPX ~ Weekend Update

The SPX continues to fail below the broken monthly support MTFZ~S @ 2940/2949, while testing support at the YR1 @ 2825. This 121 point range zigzagging inside the weekly pivot zones (see WPZ chart), will eventually break one way or the other. My thought as I’ve been expecting is a test of the quarterly support QS @ 2789, before the uptrend continues, with caution if it fails. The symmetry chart below also details a potential time and price support scenario on August 27, at SPX 2803. There is a significant confluence of pivot support around the QS as displayed on the SPX Pivot Zones chart. Good Luck & Trade Safe.

SPX ~ Pivot Zones

SPX ~ Symmetry

SPX ~ Weekly Pivot Zones (WPZ)