S&P 500 broke descending trend line but closed below it; trend line remains resistance at $7.68.

First, guys , with the Standard & Poor's 500 index. Okay, the Standard & Poor's 500 index on the daily timeframe, as you can see here, what did we reach at the highest level of today's price movement?

We have reached the descending trend line , the trend line we have been talking about since the moment we identified the pivot points after the S &P 500 hit a new all-time high.

In short, we have broken through the trend line, but we did not see enough extension after that to allow yesterday's price action to fall, break through the trend line, and pause there very briefly for about 50 minutes before finally closing below it .

Now, today, look at the price movement over the course of 10 minutes. We opened lower, tried to close a price gap, but we failed, and we fell, and entered a downward accumulation phase, and then suddenly this news appeared , and look at this rocket rise that we witnessed on the single ten-minute candle at exactly 12:10 PM.

Then we continued climbing, but do you know where we stopped? At this trend line.

This is remarkable. When you draw these trend lines correctly , the price can be affected by them for several days afterward. Even the price, which goes up and down during the day, as you saw in the chart, stopped at this point.

Now, the initial rise of the 10- minute candle stopped at the gap-filling level , held for a few minutes, and then the buyers continued to climb to that level. So, this is the end-of-day level.

This also indicates that this level will remain a resistance tomorrow, at $7.68. After 5 cents in the evening market, we will return to the resistance level.