The SPX is retesting the big Daily 200MA/EMA again, just like BTC. Charts looking somewhat similar over the past couple of months. The last time the S&P500 tested the Daily 200MA/EMA was ~1.5 years ago late 2024. The rally that followed was sharp and was tied with BTC running from 25K to 70K+ on the back of the ETF getting priced in. Definitely a good level to watch closely for markets. It's what people would mark as "make or break". Generally, these spots look pretty scary but absent of unforseen circumstances, these levels do tend to offer good risk/reward as they usually get respected well. I think now is especially interesting considering the recent volatility and the fact that BTC is at the same level.