The Wrap: TACO Trade Tested, Metals on Fire

SPX technicals

SPX has so far bounced on the 50 day, but this is not a very impressive bounce. Note we reversed 50% of Friday's candle so far today. 6600 is the short term must hold level (50 day is right here). A close below that area and the 100 day could come into play eventually, down around the 6400 area. Resistance at 6800 (all futures levels).