SPX prints a corrective structure and it is not yet finished. Shortly after top is broken, a C wave is expected. Clues for that: - RSI gives divergence visible on daily, weekly and monthly charts - top levels of 2955 doesn't hold and chart doesn't show strong price action
Rejection: - strong daily bar above 2955 levels
Prognosis: - final destination around 2385-2369 (19,5% down move) - intermediate stop - 2586 levels (0618 Fib retracement level)
Trade: Wait for confirmation of the reversal on daily. Put stop loss Do not risk more than 1-2% of your account, based on your stoploss. If you don't know how - ask me.