With the
SPX500
facing declines and more bearish setups since the past 5 weeks (or one Month) more of it is yet to come! According to my analysis and market perspective, The stock market would likely be hit with bearish signals and signs starting from the early days of may 2024.
In a technical description, price has failed to rally above the last key level there for telling us it is heavy and weak to the extent of fighting a certain level since the early days of April before finally dropping on 15th April 2024. The current rally is just a famous formation; break and retest scenario. Price is expected to rally to the level or region which it broke out from then in confluence with a 4th touch of the descending trendline, and order block and Fibonacci golden zone. If all technical tools keep price below standards of the yellow bar (key level) by showing bearish signs, patterns or setups then we can conclude that the anticipated drop has begun!
The Overall bus stop or take profit for this anticipated drop would be level 4591.61 which is roughly a 571 pip drop on SPX.
Any bullish breakout to the upside and above the yellow bar would automatically regard this trade and bias as invalid and violated, please if that happens, flip bias to the upside and avoid selling!!!!!
𝗫𝗘𝗟𝗔 𝗨𝗡𝗜𝗩𝗘𝗥𝗦𝗜𝗧𝗬
○ 𝗙𝗢𝗥𝗘𝗫 𝗖𝗥𝗨𝗜𝗦𝗘𝗥𝗦
@alexraphael00
SPX500
facing declines and more bearish setups since the past 5 weeks (or one Month) more of it is yet to come! According to my analysis and market perspective, The stock market would likely be hit with bearish signals and signs starting from the early days of may 2024. In a technical description, price has failed to rally above the last key level there for telling us it is heavy and weak to the extent of fighting a certain level since the early days of April before finally dropping on 15th April 2024. The current rally is just a famous formation; break and retest scenario. Price is expected to rally to the level or region which it broke out from then in confluence with a 4th touch of the descending trendline, and order block and Fibonacci golden zone. If all technical tools keep price below standards of the yellow bar (key level) by showing bearish signs, patterns or setups then we can conclude that the anticipated drop has begun!
The Overall bus stop or take profit for this anticipated drop would be level 4591.61 which is roughly a 571 pip drop on SPX.
Any bullish breakout to the upside and above the yellow bar would automatically regard this trade and bias as invalid and violated, please if that happens, flip bias to the upside and avoid selling!!!!!
𝗫𝗘𝗟𝗔 𝗨𝗡𝗜𝗩𝗘𝗥𝗦𝗜𝗧𝗬
○ 𝗙𝗢𝗥𝗘𝗫 𝗖𝗥𝗨𝗜𝗦𝗘𝗥𝗦
@alexraphael00