S&P 500 Testing Key Level
Last week, the market closed down and the S&P reached a key testing point. The S&P closed just above its 50-EMA and held 3000, but RSI-20 crossed into the weak zone. A deeper test to old resistance would be at the 2965 area. The last pivot low at the 50-EMA (15 June) was also 2965, so its quite possible the index will test down to there, or slightly below (to flush out the weak hands).