$S&P 500(.SPX)$ : The 4H chart yesterday anticipated well the bounce. However, the rally faded after price neared $5,727, casting doubt on its sustainability.
The bounce thesis is invalidated if $5,633 is breached. Stochastic is curling down too early. Will price action make it to the 20DMA?
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Here's my trend forecast yesterday：
The 4-hour chart accurately reflected anticipated the red day following the shooting star highlighted yesterday.
The key level is $5,616, which served as support today, coinciding with the 5DMA. Tomorrow will be crucial: Break or a bounce?
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