{"id":195123,"date":"2023-08-22T02:13:59","date_gmt":"2023-08-22T06:13:59","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=195123"},"modified":"2024-01-24T12:12:46","modified_gmt":"2024-01-24T17:12:46","slug":"chart-advisor-sp-500-finds-support","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-sp-500-finds-support\/","title":{"rendered":"Chart Advisor: S&#038;P 500 Finds Support"},"content":{"rendered":"\n<p>By&nbsp;<a href=\"https:\/\/links.investopedia.com\/u\/click?_t=36ba8fa8372241d58b3bfc06997a4332&amp;_m=c3e3d004584f45a787f820fd02bf919b&amp;_e=78Bz7-jUEmZDnUC635st7yN4umBimQ39nLy96onpD2bQQP8Pjv-AvQnbSKz7vENP_hZbGE92dZopKIAFis_hd_WUIKXD2lzCM02ftpwHriPuCP1AuA5vjqQOA6ERbDqb2TZKkHnitUwT9wnnoVlIMV__T4l4kwEazLufhTwUWomI7qK65G5ZN9FPnDtH46bLG84pzaPMcIAuJv7o6UXgYqi-qjpPbjxtphacDrBbpsJfKBqhqlMXXbu--x35XEDPouaNL9sbjQYaENDEtrOcd4HPA7ZVI7wBX7BO---lrK0tgpaQN4HB33psBlkRCYNFB4_hVLQm8Nv4w9gk3voNU1ohQZikuQjKlXoYjsSTOQ5PlrRkuBMS5LeTplBPaRCmVJbim8Z0TAMeJln0atfpjCL-ORCDdk3zZoUBwO3am0xAntKn-V68wAEBRMj_VC-i9ocKx9IxvYRIbVmWTAyoVA%3D%3D\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>J.C. Parets<\/strong><\/a>&nbsp;&amp;&nbsp;<a href=\"https:\/\/links.investopedia.com\/u\/click?_t=36ba8fa8372241d58b3bfc06997a4332&amp;_m=c3e3d004584f45a787f820fd02bf919b&amp;_e=78Bz7-jUEmZDnUC635st7w-YSTajLen9qIJ2idlkaW-SmBlkw_lpVZ7IJwZQbUKGLtSUDAHC6R5Scp--v7ars-rymMKd2fH7jUrqQ5k1GCroSlXz57FypsnZSGFVfg7ccMmE5ca9ODCKR16uuNZj5MsFJ4JDHWO9BdKmx3UnjIsTDl_QlglR_V2gTukAN23X5DtUABVTfKzNKXrs0pVar_rG9LYcCxQTT4KaQX7LXWQmL-1AQiwOhadVL57Lfq3mZyRJRCpfqVCsaFSOE4tRRUnN1JmMZms5TkUhUboq0RXnS1k1cVHfCHfAckhhw9B1EfbWHaDpQdcvJ9tHSbdbEPequA7H52o_cy61rLYHKnu-fA3G-_ah5QuXhMe1JkB7u1q7_pxrZe_JLt3uOgErBPtzMoDk1llE1F0H29MBft9WtziQroQVSk_Ac26suA00\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>All Star Charts<\/strong><\/a><\/p>\n\n\n\n<p><strong>1\/ Big Level for the S&amp;P 500<\/strong><\/p>\n\n\n\n<p><strong><strong>2\/ Stocks Catch Lower<\/strong><\/strong><\/p>\n\n\n\n<p><strong>3\/ Sellers Take Europe<\/strong><\/p>\n\n\n\n<p><strong>4\/ Rates and the Dollar Tarnish Gold<\/strong><\/p>\n\n\n\n<p><em>Investopedia is partnering with All Star Charts on this newsletter, which both sells its research to investors, and may trade or hold positions in securities mentioned herein. The contents of this newsletter are for informational and educational purposes only, however, and do not constitute investing advice.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-1-big-level-for-the-s-amp-p-500\">1\/ <strong>Big Level for the S&amp;P 500<\/strong><\/h2>\n\n\n\n<p>With U.S. equities under pressure the last few weeks, we\u2019re looking to potential&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/s\/support.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">support levels<\/a>&nbsp;for major indexes and sectors.<\/p>\n\n\n\n<p>The chart below shows the S&amp;P 500 retracing back to the 4,300 level:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/1-27-1100x541.png\" alt=\"\" class=\"wp-image-195124 lazyload\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/541;\" \/><\/figure>\n\n\n\n<p>This area of former&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/r\/resistance.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">resistance<\/a>&nbsp;represents the August highs from last summer and the 61.8%&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/f\/fibonacciretracement.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">Fibonacci retracement<\/a>, making it a crucial level of interest.<\/p>\n\n\n\n<p>We couldn\u2019t think of a more logical place for bulls to step in and halt the recent sell-off. After rebounding off this level to close near the highs of day on Friday, we saw bullish follow-through as the S&amp;P snapped its four-day losing streak with a 0.69% gain.<\/p>\n\n\n\n<p>However, if sellers regain control and price violates this critical area, investors should be prepared for further downside and increased&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/v\/volatility.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">volatility<\/a>. This kind of move would invalidate the&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/r\/reversal.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">reversal pattern<\/a>&nbsp;that was completed in June.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-2-stocks-catch-lower\">2\/ <strong>Stocks Catch Lower<\/strong><\/h2>\n\n\n\n<p><a href=\"https:\/\/www.investopedia.com\/terms\/g\/growthstock.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">Growth stocks<\/a>&nbsp;are trading like they just found out that&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/i\/interestrate.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">interest rates<\/a>&nbsp;are headed higher and staying there longer. While tech indexes run into key overhead supply zones following a few quarters of big gains, we think there is more to the corrective action this month.<\/p>\n\n\n\n<p>Interest rates in the United States are threatening to resolve higher from well-defined&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/t\/tradingrange.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">trading ranges<\/a>. When interest rates trend higher, long-duration assets like growth stocks come under pressure. Alternatively, these stocks tend to perform well when rates are falling. This is why the chart of 20-Year+ Treasury Bonds (<a href=\"https:\/\/www.investopedia.com\/markets\/quote?tvwidgetsymbol=tlt&amp;hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">TLT<\/a>) looks so much like the Nasdaq 100 (<a href=\"https:\/\/www.investopedia.com\/markets\/quote?tvwidgetsymbol=qqq&amp;hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">QQQ<\/a>):<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/2-15-1100x537.png\" alt=\"\" class=\"wp-image-195125 lazyload\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/537;\" \/><\/figure>\n\n\n\n<p>From the 2021 top to the lows during Q4 of last year, these charts have tracked each other very closely, peaking and bottoming together throughout the last cycle. However, beginning in the first quarter of this year, the relationship began to diverge as stocks screamed higher despite&nbsp;<a href=\"https:\/\/www.investopedia.com\/articles\/investing\/073113\/introduction-treasury-securities.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">Treasuries<\/a>&nbsp;rolling over.<\/p>\n\n\n\n<p>With TLT closing at its lowest level in over a decade today, it will require a much steeper stock market&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/c\/correction.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">correction<\/a>&nbsp;before this divergence clears itself up. While the relationship may not go back to how strong it was in recent history, we don\u2019t see growth stocks continuing higher in an environment where rates are rallying to new heights.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-3-sellers-take-europe\">3\/ <strong>Sellers Take Europe<\/strong><\/h2>\n\n\n\n<p>Sellers have taken control abroad.<\/p>\n\n\n\n<p>Overhead supply is a global phenomenon within equities as more and more countries run into logical levels of resistance.<\/p>\n\n\n\n<p>An excellent example of this theme are the United Kingdom ETF (<a href=\"https:\/\/www.investopedia.com\/markets\/quote?tvwidgetsymbol=ewu&amp;hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">EWU<\/a>) and the Italy ETF (<a href=\"https:\/\/www.investopedia.com\/markets\/quote?tvwidgetsymbol=ewu&amp;hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">EWI<\/a>):<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"527\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/3-14-1100x527.png\" alt=\"\" class=\"wp-image-195126 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/3-14-1100x527.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/3-14-700x335.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/3-14-300x144.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/3-14-768x368.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/3-14.png 1197w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/527;\" \/><\/figure>\n\n\n\n<p>As you can see, they got rejected at a shelf of former highs, halting their advance.<\/p>\n\n\n\n<p>This tells us that they need more time to&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/c\/consolidation.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">consolidate<\/a>&nbsp;and build up the fuel before buyers absorb overhead supply at these resistance levels. Until then, we expect further&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/s\/sidewaysmarket.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">sideways action<\/a>&nbsp;overseas.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-4-rates-and-the-dollar-tarnish-gold\">4\/ <strong>Rates and the Dollar Tarnish Gold<\/strong><\/h2>\n\n\n\n<p>Gold is hanging on for dear life as it barely holds above its former 2011 highs (prior commodity supercycle peak).<\/p>\n\n\n\n<p>And from the looks of the&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/f\/foreign-exchange.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">foreign exchange (FX)<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/b\/bondmarket.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">bond markets<\/a>, lower may be in the cards for the shiny yellow rock.<\/p>\n\n\n\n<p>Check out the&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/forex\/c\/cny-china-yuan-renminbi.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">Chinese yuan<\/a>&nbsp;overlaid with the&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/1\/30-yeartreasury.asp?hid=52e0514b725a58fa5560211dfc847e5115778175&amp;did=10036646-20230822&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=082223\" target=\"_blank\" rel=\"noreferrer noopener\">U.S. 30-year Treasury bond<\/a>&nbsp;futures in the upper pane and gold futures in the lower pane:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/4-14-1100x561.png\" alt=\"\" class=\"wp-image-195127 lazyload\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/561;\" \/><\/figure>\n\n\n\n<p>These three markets have followed each other closely over the past two years.<\/p>\n\n\n\n<p>The upper pane highlights a relentless U.S. dollar (via the yuan) and rising interest rates by way of falling bond prices. Both create formidable headwinds for gold.<\/p>\n\n\n\n<p>As long as the uptrends remain intact for yields and the U.S. dollar, it\u2019s most likely messy for longer when it comes to precious metals. But the outlook for gold appears dim if and when it trades below its former 2011 peak.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally posted 21st August 2023<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With U.S. equities under pressure the last few weeks, we\u2019re looking to potential support levels for major indexes and sectors.<\/p>\n","protected":false},"author":186,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21,14,5,15,16,17,18,6,9,22,23,26,3],"tags":[15840,6777,1328,238,2782,910,6609],"contributors-categories":[13686],"class_list":{"0":"post-195123","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-commodities","7":"category-etfs","8":"category-europe-middle-east-africa","9":"category-fixed-income","10":"category-forex","11":"category-futures","12":"category-macro","13":"category-north-america","14":"category-securities","15":"category-stocks","16":"category-technical-analysis","17":"category-text-articles","18":"category-traders-insight","19":"tag-cny-usd","20":"tag-ewi","21":"tag-ewu","22":"tag-fx","23":"tag-qqq","24":"tag-sp-500","25":"tag-tlt","26":"contributors-categories-investopedia"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chart Advisor: S&#038;P 500 Finds Support | Traders&#039; Insight<\/title>\n<meta name=\"description\" content=\"With U.S. equities under pressure the last few weeks, we\u2019re looking to potential support levels for major indexes and sectors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/195123\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chart Advisor: S&amp;P 500 Finds Support | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"With U.S. equities under pressure the last few weeks, we\u2019re looking to potential support levels for major indexes and sectors.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-sp-500-finds-support\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-22T06:13:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-24T17:12:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ibkrcampusdev.wpengine.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/1-27-1100x541.png\" \/>\n<meta name=\"author\" content=\"Contributor Author\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Contributor Author\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-sp-500-finds-support\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-sp-500-finds-support\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Contributor Author\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/e823e46b42ca381080387e794318a485\"\n\t            },\n\t            \"headline\": \"Chart Advisor: S&#038;P 500 Finds Support\",\n\t            \"datePublished\": \"2023-08-22T06:13:59+00:00\",\n\t            \"dateModified\": \"2024-01-24T17:12:46+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-sp-500-finds-support\\\/\"\n\t            },\n\t            \"wordCount\": 727,\n\t            \"commentCount\": 0,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-sp-500-finds-support\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.ibkrcampusdev.wpengine.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/08\\\/1-27-1100x541.png\",\n\t            \"keywords\": [\n\t                \"CNY.USD\",\n\t                \"EWI\",\n\t                \"EWU\",\n\t                \"fx\",\n\t                \"QQQ\",\n\t                \"S&amp;P 500\",\n\t                \"TLT\"\n\t            ],\n\t            \"articleSection\": [\n\t                \"Commodities\",\n\t                \"ETFs\",\n\t                \"Europe, the Middle East and Africa\",\n\t                \"Fixed Income\",\n\t                \"Forex\",\n\t                \"Futures\",\n\t                \"Macro\",\n\t                \"North America\",\n\t                \"Securities\",\n\t                \"Stocks\",\n\t                \"Technical Analysis\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"CommentAction\",\n\t                    \"name\": \"Comment\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-sp-500-finds-support\\\/#respond\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-sp-500-finds-support\\\/\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-sp-500-finds-support\\\/\",\n\t            \"name\": \"Chart Advisor: S&P 500 Finds Support | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-sp-500-finds-support\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-sp-500-finds-support\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.ibkrcampusdev.wpengine.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/08\\\/1-27-1100x541.png\",\n\t            \"datePublished\": \"2023-08-22T06:13:59+00:00\",\n\t            \"dateModified\": \"2024-01-24T17:12:46+00:00\",\n\t            \"description\": \"With U.S. equities under pressure the last few weeks, we\u2019re looking to potential support levels for major indexes and sectors.\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-sp-500-finds-support\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-sp-500-finds-support\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.ibkrcampusdev.wpengine.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/08\\\/1-27-1100x541.png\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.ibkrcampusdev.wpengine.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/08\\\/1-27-1100x541.png\"\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/e823e46b42ca381080387e794318a485\",\n\t            \"name\": \"Contributor Author\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/contributor-author\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Chart Advisor: S&#038;P 500 Finds Support | Traders' Insight","description":"With U.S. equities under pressure the last few weeks, we\u2019re looking to potential support levels for major indexes and sectors.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/195123\/","og_locale":"en_US","og_type":"article","og_title":"Chart Advisor: S&P 500 Finds Support | IBKR Campus US","og_description":"With U.S. equities under pressure the last few weeks, we\u2019re looking to potential support levels for major indexes and sectors.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-sp-500-finds-support\/","og_site_name":"IBKR Campus US","article_published_time":"2023-08-22T06:13:59+00:00","article_modified_time":"2024-01-24T17:12:46+00:00","og_image":[{"url":"https:\/\/www.ibkrcampusdev.wpengine.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/1-27-1100x541.png","type":"","width":"","height":""}],"author":"Contributor Author","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Contributor Author","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-sp-500-finds-support\/#article","isPartOf":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-sp-500-finds-support\/"},"author":{"name":"Contributor Author","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/e823e46b42ca381080387e794318a485"},"headline":"Chart Advisor: S&#038;P 500 Finds Support","datePublished":"2023-08-22T06:13:59+00:00","dateModified":"2024-01-24T17:12:46+00:00","mainEntityOfPage":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-sp-500-finds-support\/"},"wordCount":727,"commentCount":0,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-sp-500-finds-support\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ibkrcampusdev.wpengine.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/1-27-1100x541.png","keywords":["CNY.USD","EWI","EWU","fx","QQQ","S&amp;P 500","TLT"],"articleSection":["Commodities","ETFs","Europe, the Middle East and Africa","Fixed Income","Forex","Futures","Macro","North America","Securities","Stocks","Technical Analysis","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-sp-500-finds-support\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-sp-500-finds-support\/","url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-sp-500-finds-support\/","name":"Chart Advisor: S&P 500 Finds Support | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-sp-500-finds-support\/#primaryimage"},"image":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-sp-500-finds-support\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ibkrcampusdev.wpengine.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/1-27-1100x541.png","datePublished":"2023-08-22T06:13:59+00:00","dateModified":"2024-01-24T17:12:46+00:00","description":"With U.S. equities under pressure the last few weeks, we\u2019re looking to potential support levels for major indexes and sectors.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-sp-500-finds-support\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-sp-500-finds-support\/#primaryimage","url":"https:\/\/www.ibkrcampusdev.wpengine.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/1-27-1100x541.png","contentUrl":"https:\/\/www.ibkrcampusdev.wpengine.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/1-27-1100x541.png"},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/e823e46b42ca381080387e794318a485","name":"Contributor Author","url":"https:\/\/www.interactivebrokers.com\/campus\/author\/contributor-author\/"}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/195123","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/186"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=195123"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/195123\/revisions"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=195123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=195123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=195123"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=195123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}