$SPX Reaches Target, Eyes Next Resistance for Potential Sell-Off
As warned, $S&P 500(.SPX)$ sold the rally perfectly at 5586 resistance & already reached the 5445 target!
We are now near the 100% ext, so price is vulnerable to a 4th wave bounce, but the next rally is also expected to be sold.
Watch for the 5467-5474-5496 area to act as resistance to produce another leg down.
$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2409(ESmain)$ $E-mini Nasdaq 100 - main 2409(NQmain)$
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We were looking for the 5586 level to act as resistance before beginning the next wave down targeting 5446-5458.
SPX topped at 5585 then declined to that target for 165 points in a single session !
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https://x.com/TriggerTrades/status/1816262405363470741
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