“Brian Shannon on TraderTV Live 9/29/26”
RSP is at a critical support level but currently weak below its 5-day MA; a bullish reversal requires the MA to flatten.
What I find interesting is the equally weighted S&P 500, right? That is our index; I don't need to tell you the symbol , but the symbol is RSP for many of our viewers. This index has taken a heavy beating .
The S&P 500 is nearly 1% lower than its record high. We have made the calculation and the index is about 5% lower than its peak.