SPX bounced off support
$S&P 500(.SPX)$ crossed the ‘[W2]/[W4]’ trendline with a truncated [W5] high, strongly shifting odds to favor the beginning of the bear market.
I’ve already called the top and price has barely moved since—but warning: it most likely is in, and I’ll proceed as though it is.
SPX bounced off support today, so I would watch for a corrective rally with 6084-6043 being the ideal short zone, if not 6009-5993.
Regardless if that zone is reached, I’m targeting the January 13 low at 5773 short-term.
If we plummet below 5750, the odds surge in my favor. Below 5635? I’d have max conviction, as it kills the last bull alternate.
$SPDR S&P 500 ETF Trust(SPY)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini S&P 500 - main 2503(ESmain)$ $E-mini Nasdaq 100 - main 2503(NQmain)$
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