SPX Technical Analysis: S&P 500 Tests Key Support Ahead of Fed Decision
The S&P 500 closed Friday at 7,656.98, gaining 0.86% and ending a four-session losing streak. Despite the rebound, SPX remains below its recent high and is appr
The S&P 500 closed Friday at 7,656.98, gaining 0.86% and ending a four-session losing streak. Despite the rebound, SPX remains below its recent high and is approaching a critical technical decision point.
Key Levels to Watch
Resistance: 7,756–7,771
Upside target: 7,800–7,900
Support: 7,620–7,577
Major support: 7,500
Downside target: 7,300
The 7,600 area is the key battleground for next week. Holding this zone would keep the short-term structure cautiously bullish and could allow SPX to retest 7,756–7,771. A decisive breakout above that resistance could open the way toward 7,800 and potentially 7,850–7,900.
On the downside, a sustained break below 7,577 would weaken the bullish structure and put 7,500 into focus. A deeper correction could eventually target 7,300.