The S&P 500 (
SPX
) is nearing two resistance zones: 4,550 and 4,600. I anticipate one of these will be reached (max 4,650) in the coming days before a reversal / continued correction down. If the correction continues, I'll be watching to see if an inverse head a shoulders pattern emerges to give a sign of bullish future move up which could lead to new all-time highs. Regardless, I don't think it'll be new all-time highs from this point forward (correction first).
SPX
) is nearing two resistance zones: 4,550 and 4,600. I anticipate one of these will be reached (max 4,650) in the coming days before a reversal / continued correction down. If the correction continues, I'll be watching to see if an inverse head a shoulders pattern emerges to give a sign of bullish future move up which could lead to new all-time highs. Regardless, I don't think it'll be new all-time highs from this point forward (correction first).
Trade closed: target reached:
✅✅✅