SPX Triangle Formation Signals Potential Reversal
Although $S&P 500(.SPX)$ made a new high, the choppy consolidation formed a triangle — a bearish tell, since triangles typically precede the final move of an A-B-C sequence rather than an impulsive expansion.
I’m cautious here, watching for a reversal that could set the next leg down.
Bulls still control the tape, but a close below 6812 is the first bearish shift, with a close under 6715 confirming the sell signal.
$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2512(ESmain)$ $E-mini Nasdaq 100 - main 2512(NQmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $Dow Jones(.DJI)$ $iShares Russell 2000 ETF(IWM)$
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