S&P500 (SPX) Reversal Confirmed!

With the US China trade war heating up once again and the fall out beginning to flow over into a weakening global economy the stage is set for another volatile period similar to H2 2018. The S&P500 index has failed to break out above ascending resistance for the fourth time confirming a reversal, imminent support can be found at $2725 (38.2% fibonacci retracement level), failing to hold that a retest of 2018 lows is on the cards at $2400.