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A short-term bull and bear reference point for S&P 500 futures is the previous week's low, which stands at 7,322. This is 193 points below today's intraday level of 7,515.
Chris Ciovacco shared this benchmark level as a point of market context.
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Ciovacco has previously estimated that a hypothetical S&P 500 move from last week's high to its 200-day moving average would total 7.10%, according to his recent analysis. He has also offered breakdowns of stocks by performance groups in another performance overview. These references contribute to context around key technical levels in the market.