SPX & NDX: Bearish 5-Wave Complete, Bounce Likely Before Next Leg Down

TRIGGER TRADES
12-17 15:38

$S&P 500(.SPX)$ and $NASDAQ 100(NDX)$ have both completed a bearish 5-wave decline from their respective peaks.

A corrective bounce is the likely next move, though expect sellers to fade that rally.

Any bounce should set the stage for another leg down.

SPX will likely bounce off the 50-DMA initially—but don't be fooled.

A close below this level inverts the Daily FVG and confirms the sell signal.

Once that support snaps, the probability of a high-velocity move lower to 6400–6350 spikes immediately.

Eyes on Thursday's CPI to drive the expansion.

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