22:07 UTC
Downtrend, stretched after yearly-low flush · RSI 32 · price 3,902.46
LH/LL chain since Sep 3 peak; Oct base broken.
Two-month downtrend from the 4510.88 early-September peak. Each weekly rally has printed a lower high, and price sits below a falling EMA(20) and EMA(50). The 4065–4230 base held from late September to mid-October, then gave way on Oct 22. Friday's flush, driven by oil and the Fed, printed a 3870.26 yearly low with RSI briefly below 30. Monday's early bounce came as oil and yields eased on US-Iran peace hopes. The prior low at 3975.70, the 4082.67 swing high and the descending trendline from the September peak still cap the structure.
Support: 3,870.26
Resistance: 3,975.70, 4,082.67, 4,114.98
What it said to watch
- Daily close below the 3870.26 yearly low extends the lower-low sequence
- Recovery through the 3975.70 prior low and the 4000 handle would be the first reclaim since the Oct 30 break
- Close above the 4082.67 swing high and the descending trendline breaks the lower-high chain, with the fib 38.2% at 4114.98 next
- US midterms Tue and JOLTS (f/c 7.13M) could materially shift this read via yields and December hike odds