If the SPX breaks this level, it could get ugly

[Money Morning LIVE] Tuesday, May 24, 2022 [[Leaked] Video Footage from Secret Expert Trader Meeting]( The Money Morning LIVE experts met three weeks ago for a secret meeting. This leaked footage reveals how they're combining forces to harness their top trading strategies to deliver you the single best trade - every single day. And you'll never believe who leaked the details. [Watch this tell all video now](. --------------------------------------------------------------- If the SPX Breaks This Level, It Could Get Ugly Hey, Money Morning LIVE family, On the show this morning, Mark Sebastian broke down some of the recent price action on the S&P 500 Index (SPX), the most followed broad-market index of the top 500 stocks in the U.S. stock exchange. During the conversation, he gave us a level of support to watch on the SPX that, if it breaks, it could spell bad news for stocks. Well, even more bad news. But before I drop the clip, I wanted to talk just a little bit about technical support and resistance, just so you all had a basic understanding. (Side note: check out our [Trading 101 starter pack]( On the simplest level, technical support refers to a level on a stock chart where the shares may stop moving lower, while technical resistant is a place where the shares stop going higher. Technical support or resistance can be found either just by looking at a chart, in the case of a round number like $50 or $100, or we may find them by using a certain indicator. One of the most popular indicators within the Money Morning LIVE family is VWAP (Volume-Weighted Average Price), so let's use that as an example with a stock we've been watching this week: Geovax Labs (GOVX). Here's the 5-minute chart from today... GOVX 5-minute chart with VWAP (blue line - Via ThinkorSwim) Notice how almost every time GOVX moved lower, it stopped near the blue line, or VWAP. This is an example of a technical indicator acting as support. As I mentioned, other times it's simple round-number prices like $10, $50, $100, that act as technical support or resistance. Really, it takes some experience determining what are true support and resistance levels on a stock charts; it varies by the type of stock and what's been driving the price action. But at least you can have an idea of what we're referring to when we talking about support and resistance on stock charts. The Price Point to Watch in this Market Oftentimes, when an area of notable support for a stock is broken, meaning the shares move below it, it can result in a sharp sell-off. This is what Mark Sebastian was talking about this morning when he pointed out a key price point to watch on the SPX. (Hint: it's related to yesterday's email about [bear markets](. [The SPX price point to watch]( Make sure you're in the room tomorrow at 8:30 AM ET to take advantage of the free content we're providing every single day. Our [streaming schedule]( is always on the site, and also make sure you're signed up for Voz's [Thursday event](. More coming soon. 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