S&P500 Key Levels – January 27
The S&P500 did all the right things for the week, closing at its high for the month/year, making a new intraday high for the month, and breaking above its downtrend line. As we noted last week, the stock index is trading in a 300-point range, bookmarked at its December high and low, at 4100.96 and 3764.49, respectively. The S&P was rejected right at the top of the range today at its intraday high of 4094.21. Watch for a breakout or fail at the key level of 4100.96.
The key .50 fib at 4155.10 is a big number.
Source: https://global-macro-monitor.com/2023/01/27/sp500-key-levels-january-27-2/
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