Bearish Setup Builds as SPX Nears Sell Trigger

TRIGGER TRADES
01-01 10:26

At the beginning of the week -> I stated a close below $S&P 500(.SPX)$ 6910 is the first warning sign of a bearish reversal ✅

Now we are approaching the confirmation point:

• If price crosses 6832, that would confirm the ABC up pattern for W5.

• A close below 6816 would trigger the sell signal to at least 6720

Confirmation is still needed, but the setup increasingly favors the top being in.

$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2603(ESmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2603(NQmain)$ $Dow Jones(.DJI)$ $iShares Russell 2000 ETF(IWM)$

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Comments

  • Merlin Spear
    01-01 15:36
    Merlin Spear
    Sgx was in a slump for more than a decade. For many persistent cycles, she didn't recover when US did.
  • KSR
    01-01 10:44
    KSR
    👍
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