This is an updated chart that I have on SPX500USD. I have it trading in a channel that begins from the COVID-19 Pandemic up to now. Today was a very volatile day that spooked many people such as traders and investors causing panic in the market. Today, SPX500USD actually dipped below the lower channel, BUT it closed above it. Through my technical analysis, it is telling me that we are still in an uptrend based on this chart.
On Wednesday, we do have n FOMC meeting that may cause more volatility this week!
On Wednesday, we do have n FOMC meeting that may cause more volatility this week!