SPX'S Last man standing :-)

This is the last down sloping trend line, we need to have clear break out retest it and then go up far a way from it to confirm a valid break out. Going back
again below the trend line means this is a fake break out . Many indicators as we have suggested last Friday are suggestion a trough of some sort whether
a major one for anew ATH, or reasonable one for another leg down !!!

Comment:

First rejection is okay, much better than fake break out and coming back again below the trend line. Second rejection might also be excepted , not third though. Remember guys, we need to have higher lows to confirm a change in direction !

Comment:

2ed Rejection is confirmed, better not have a 3ed one for bulls.

Comment:

Last man standing has fallen with ONE big gap.