The S&P 500 Index (SPX) posted a new closing low for the year on September 29, 2022. We are closely monitoring the 3600 level for support. If the index closes below this level at market close, we expect a higher probability of a continuation of the sell-off. If the 3600 support level can hold and the SPX rotates higher, we are looking for a rebound towards the 3800 resistance level.
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