Whether the SPX can break and hold this 1364 area or it bounces down from it will give us an idea about the strength of the current relief rally. A strong close above 1375 would show some nice strength going into the weekend ahead of next Tuesday's Fed Announcement.
On the downside, 1338 would be the first likely support area -- below that look for it to hold at the old closes of 1310. Below that, look out below.
SPX Daily Chart:
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