Chart of the Day – S&P 500 – (September 14th, 2023)
<div><p><div><h2 itemprop="headline">S&P 500 at key resistance! </h2><div><div></div></div></div><br />
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>The S&P500 (SPX) is at a key resistance level. It is the 78% Fibonacci retracement of the September range, triangle resistance (descending trend line) and also completing an AB=CD equal leg move since September 7th. Intraday RSI has just reached overbought, so it will be interesting if we get a pivot/reversal of a continuation from these levels. A breakout would suggest a move to the 4572 level next. A reversal lower would send the index back to the 4480 level.</p>
<p>(Bonus points for harmonic traders: Yeah, it’s a Gartely as well)</p>
<p><img decoding="async" fetchpriority="high" class="alignnone size-full wp-image-10750" src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/SPX500USD_2023-09-14_12-16-03.png" alt="" width="1502" height="839" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/SPX500USD_2023-09-14_12-16-03.png 1502w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/SPX500USD_2023-09-14_12-16-03-400×223.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/SPX500USD_2023-09-14_12-16-03-800×447.png 800w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/SPX500USD_2023-09-14_12-16-03-768×429.png 768w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/SPX500USD_2023-09-14_12-16-03-1500×838.png 1500w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/SPX500USD_2023-09-14_12-16-03-705×394.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/SPX500USD_2023-09-14_12-16-03-450×251.png 450w" sizes="(max-width: 1502px) 100vw, 1502px" /></p>
<p>Blake Morrow</p>
<p>Our <a href="https://www.forexanalytix.com/blog/category/technical-analysis/chart-of-the-day/">“Chart of the Day”</a> feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, <a href="https://traderfundingprogram.com/?ref=blake">click here to learn more</a>. Trade our money, take 75% of the gains and none of the risk.</p>
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</div></section></p></div><section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Steve Voulgaridis</p>
</div></section></p>
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