Key Algorithm Calculated S&P 500 Support Levels: 4360 (SMALL) / 4345 (LARGE) / 4300 (SMALL) / 4300 (SMALL) / 4250 (MEDIUM) / 4240 (MEDIUM) / 4220 (LARGE) / 4200 (MEDIUM)
Key Algorithm Calculated S&P 500 Resistance Levels: 4380 (MEDIUM)
Assessment: The trendline from the March 2020 low continues today through 4345. A break of this level would be a material trend change. It’ll then just be a question of how long the trend change will last. I am still riding my SDS position. The market just feels like she is going to let loose to the downside. There is ZERO material bullish interest out there to push this higher. So, I can’t even think about opening a bullish position. Which means cautiously bearish is the place I want to be. So, I will hold SDS, perhaps through the weekend. Once we get that decent down day then I will look to exit. I don’t like to hold leveraged ETFs for long, but I think we are getting some downside momentum. As I say that we will see today finish as an up day. LOL! Good luck in your trades!