SPX and NDX declined below their trendlines
$S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ and $NASDAQ 100(NDX)$ declined below their trendlines, which is a strong warning sign their respective [W3] and [W5] rallies are COMPLETE.
Therefore, we should be transitioning to the multi-month correction taking SPX to 4820 & NDX to 17000.
It is still early so would like to see fractals to support, but currently expecting SPX to remain below 5265 and NDX 18465.
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SPX gapped down into support, which favored a relief bounce 📈
We targeted the 5203-5208 range for the bounce, and price closed in that target range ✅
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https://twitter.com/TriggerTrades/status/1775312574420050006
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- Rollyxuxu·04-03Great article, would you like to share it?LikeReport