Near-term resistance on the S&P 500 Index (SPX) sits at 2632.91 and support at 2585.68…formed by a one-day moving average (mid-point of candle high/low — input source is hl2) of the February 8 & 9 candles, as shown on the daily chart below.
Longer-term +50% Andrew’s Pitchfork channel support converges at this month’s low of 2585.38, as shown on the monthly chart below.
So, short and long-term moving average and pitchfork channel support converges at 2585.
Look out below if price drops and holds below that level! And, a retest of the pitchfork median (broken pink line), currently around 2460, is long overdue.