The S&P500 index hit yesterday the top of the 19 month Channel Up. That was the first time since it started trading. This is a strong sell signal and considering that the MA50 (1d) has been intact since the November 3rd 2023 bullish break out, we expect to cross under it now.
Trading Plan: 1. Sell on the current market price.
Targets: 1. 4950 (-6.00%, 0.618 Fib and Support A).
Tips: 1. The RSI (1w) is posting the same sequence just under the Rising Resistance that it did during the July 27th 2023 High. An additional sell signal.