$SPX & $DJI: Bearish SMT Confirms Downside Risk

TRIGGER TRADES
12-16 11:19

$S&P 500(.SPX)$ resolved lower as expected after forming the bearish SMT w/ $Dow Jones(.DJI)$ .

$NASDAQ 100(NDX)$ produced a clear 5-wave decline to today's low—suggesting we are due for a corrective bounce back to today's high.

Don't be fooled by the green: the 5-wave structure implies that would be a rally to sell, setting up the next leg down.

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

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