This trade idea is an update based on recent price action. Previously, I had warned of the consequences of SPX breaking $4050 support. At present, in my opinion, the price is headed for a test of $20,000. At the $20,000 area there is a chance of a bounce to $30,000. However, I believe the price will inevitably retest the $4000 - $6000 region, which is where I am looking to get into spot. I had warned that bounces are for getting out of spot positions and had explained why it was not good risk reward.
This trade idea is not financial advice. I am not a financial advisor of any kind.
Please do your own analysis, responsibly manage your risk, and stay safe.