SPX Third Time is a charm for the sell

Hi everyone:

Its always a good idea to have our weekly outlook on the market so we can prepare for any kind of development.

Here on SPX, the previous 2 analysis I had all had the lower time frame bearish move down,
but just wasn't ready to continue its bearish impulse phase further.

As price reverse up correctively and continue to develop the current price action structure, which is an ascending channel pattern.

As we know ascending structures are reversal in nature,
and there's good probability we can expect the same price action that has formed before Covid to have a higher probability of playing out.

What we can look out for this week is to wait for a clear lower time frame impulse down, breaking out of the ascending channel.
Then be on the look out for bearish continuation correction to form and complete, then look for the entry down to the next low as a potential target.

Thank you

Comment:

Higher Time Frame:

Comment:

Price impulse out of the reversal structure, watch for lower time frame bearish continuations