SPX: Above a Support Level.

• Yesterday, the SPX corrected just to hit our support at 4,100, and now it is stabilizing in this area;
• We have been monitoring the 4,100 for a while, but we clearly stated that this was our support level in my previous analysis (link below this post);
• It is still a risky situation, and if the index loses this support it might trigger a sharper correction to the 21 ema;
• On the other hand, if it does a bullish structure today, this might be just a bullish continuation sign, and the index would resume the bullish bias;
• In this scenario, there’s an open gap at 4,218, which would be our next target;
• This is a critical key point on the index, and it all depends on how it’ll react from here. I’ll keep you updated on this.

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