SPX just produced its first bearish indication forming a divergence at the high

TRIGGER TRADES
09-24

After reaching the 6700 target, $S&P 500(.SPX)$ just produced its first bearish indication forming a divergence at the high.

A close below 6624⚠️ is needed to send the sell signal🚨 but S&P now holds a valid (3-3-3-3-3) diagonal structure from the April lows that threatens a higher degree correction is beginning.

I am leaning bearish anticipating today's high not being crossed targeting 6580-6556 with risk opening up for significantly deeper losses if momentum accelerates.

$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2512(ESmain)$ $E-mini Nasdaq 100 - main 2512(NQmain)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $Dow Jones(.DJI)$ $E-mini Dow Jones - main 2512(YMmain)$

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  • Astrid Stephen
    ·09-24
    SPX diagonal structure hints correction! CBA’s 0-commission for inverse ETFs!
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  • Reg Ford
    ·09-24
    SPX bearish divergence! Watching 6624,sell signal if broken, target 6556!
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