Volatility Contraction Sets Up SPX Move Near $6928.64

SPX (SPX) traded flat at $6928.64 on December 27.

Technical indicators paint a bullish picture:

• Moving Averages: Price trades above the 9-day EMA ($6872.95) with a bullish stack. The 21-day EMA at $6842.98 provides support.
• Momentum: RSI at 64.0 is in neutral territory but trending higher. MACD is bullish (34.88 vs signal 26.28).
• Volatility: Stock has been in a TTM Squeeze for 5 days, indicating compressed volatility and potential for a significant move.

Key levels to watch: Support at $6748.07, Resistance at $6948.74.