SPX continues to defend the 5265 high following CPI and formed a impulse down

$S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ continues to defend the 5265 high following CPI and formed a impulse down.

The impulse down is a bearish continuation pattern suggesting further downside below 5138 - likely targeting 5090 w/ potential to extend lower.

Overall, confidence has increased the downside momentum will continue lower escalating the [W4] decline.

Image

Following the CPI decline, we expected the next leg up for SPX to be sold at 5178 targeting 5137, which played out exactly 🔥

We also expected $NASDAQ 100(NDX)$ to produce a rally today targeting the 110% ext. of the first up 🎯

NDX blasted higher to that target 🚀

Image

https://twitter.com/TriggerTrades/status/1778574813922984095

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Comments

Christianaa
04-15
Christianaa
Definitely an eventful session in the markets!
CarolFelix
04-15
CarolFelix
Wow, impressive technical analysis!

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likely targeting 5090 w/ potential to extend lower.Overall, confidence has increased the downside momentum will continue lower escalating the [W4] decline.<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/ae7ee4ce2133d70726bdbbfe334fe2f3\" tg-width=\"3836\" tg-height=\"2068\">ImageFollowing the CPI decline, we expected the next leg up for SPX to be sold at 5178 targeting 5137, which played out exactly 🔥We also expected <a data-mention-id=\"NDX\" class=\"teditor-mention\" data-mention-name=\"NASDAQ 100\" href=\"https://ttm.financial/S/NDX\">$NASDAQ 100(NDX)$</a> to produce a rally today targeting the 110% ext. of the first up 🎯NDX blasted higher to that target 🚀<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/d298f554a0500c985d9be5075870f250\" tg-width=\"3836\" tg-height=\"2066\">Image<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/3aeba81827fa56dae22a53ccf9147c11\" tg-width=\"3838\" tg-height=\"2068\">Image<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/9fde6cd76db407d8f136e3f6f3e4b34a\" tg-width=\"1921\" tg-height=\"1034\">Image<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/d09f44a04a4c63f7a185c02658632adc\" tg-width=\"3840\" tg-height=\"2068\">Imagehttps://twitter.com/TriggerTrades/status/1778574813922984095</body></html>","htmlText":"<html><head></head><body> <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> <a data-mention-id=\"SPY\" class=\"teditor-mention\" data-mention-name=\"SPDR S&amp;P 500 ETF Trust\" href=\"https://ttm.financial/S/SPY\">$SPDR S&amp;P 500 ETF Trust(SPY)$</a> continues to defend the 5265 high following CPI and formed a impulse down.The impulse down is a bearish continuation pattern suggesting further downside below 5138 - likely targeting 5090 w/ potential to extend lower.Overall, confidence has increased the downside momentum will continue lower escalating the [W4] decline.<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/ae7ee4ce2133d70726bdbbfe334fe2f3\" tg-width=\"3836\" tg-height=\"2068\">ImageFollowing the CPI decline, we expected the next leg up for SPX to be sold at 5178 targeting 5137, which played out exactly 🔥We also expected <a data-mention-id=\"NDX\" class=\"teditor-mention\" data-mention-name=\"NASDAQ 100\" href=\"https://ttm.financial/S/NDX\">$NASDAQ 100(NDX)$</a> to produce a rally today targeting the 110% ext. of the first up 🎯NDX blasted higher to that target 🚀<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/d298f554a0500c985d9be5075870f250\" tg-width=\"3836\" tg-height=\"2066\">Image<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/3aeba81827fa56dae22a53ccf9147c11\" tg-width=\"3838\" tg-height=\"2068\">Image<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/9fde6cd76db407d8f136e3f6f3e4b34a\" tg-width=\"1921\" tg-height=\"1034\">Image<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/d09f44a04a4c63f7a185c02658632adc\" tg-width=\"3840\" tg-height=\"2068\">Imagehttps://twitter.com/TriggerTrades/status/1778574813922984095</body></html>","text":"$S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ continues to defend the 5265 high following CPI and formed a impulse down. The impulse down is a bearish continuation pattern suggesting further downside below 5138 - likely targeting 5090 w/ potential to extend lower. Overall, confidence has increased the downside momentum will continue lower escalating the [W4] decline. 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