Key Stock Market Levels Could Determine Next Move as Indexes Teeter on Support
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The Nasdaq and S&P 500 are at important support levels that could determine the market's next move.
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Key levels to watch are the Nasdaq's COVID high/low and 2021/2022 pivot points.
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S&P 1500 and SPY are holding above 2022 lows which is bullish, but RSP looks more bearish.
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Small caps (IWM) have dropped below 2021/2022 levels which is concerning.
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Junk bonds (JNK) holding the 2022 low is positive, but failing previous highs raises recession risk.