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TWLO - S&P 500 Breaks Support Level Of 2950; Next Stop: 2900. Meanwhile Buy Square
Twilio Inc. Class A
Being on the sidelines for now does not mean you are permanently passive
Chartists count closing prices, so let's see if we close below 2,950. The sell-off yesterday could not break 2,950, but now in the premarket, the S&P futures are 2,940ish. If the S&P closes decisively lower than 2,950, selling will begin to build its own momentum to the downside. I see support at the 2,880-2,900-2,910 area. Let's see if that holds; that area would be about 3%.
The fall can be sharp and the recovery could be equally sharp