We shared a trade idea warning of an upcoming drop after the SPX hit a new all-time high. This is shown in a shorter time frame below:
As you can see, this index will continue moving lower.
- I expect support to be found at the blue dashed lines.
- Resistance, in case the SPX index bounces, can be found at the magenta dashed lines.
All of the chart signals are described in the previous trade idea and are still valid.
Thanks a lot for reading.