Only because the nature of the beast is that former resistance often becomes support, it is quite possible that the more recent highs of April and June (in the 1130/40 area) would be a better support for the SPX. The Naz may not do the "whole" trip to 2000, 2020/25 and maybe as high as 2050 were minor overhead resistances and could serve as support.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.