SPX Technical Analysis SPX is in a downtrend as per the McClellan Summation Index, the trend indicator, which triggered the signal two days ago. SPX broke through the middle Keltner, but now things get more interesting. Just below are the August gap and technical support from the June high, which coincides with the 38.6% Fibonacci retracement of the move from the July post-Fed low. Will bulls defend this level? Notably, below this support, the next target will be the 50D MA and lower Keltner, which will be on Friday at about 50% Fibonacci retracement.
Published Aug 21, 2026Updated Aug 21, 20262 min read
SPX Technical Analysis SPX is in a downtrend as per the McClellan Summation Index, the trend indicator, which triggered the signal two days ago. SPX broke through the middle Keltner, but now things get more interesting. Just below are the August gap and technical support from the June high, which coincides with the 38.6% Fibonacci retracement of the move from the July post-Fed low. Will bulls defend this level? Notably, below this support, the next target will be the 50D MA and lower Keltner, which will be on Friday at about 50% Fibonacci retracement.
