SPX hasn’t produced the sell signal yet
$S&P 500(.SPX)$ erased yesterday’s gains but hasn’t produced the sell signal yet (Daily close below 6723 🔑).
Until that happens, there’s still potential to rally toward 6800 before a reversal.
That said, I don’t see a strong setup supporting that upside — though $E-mini Nasdaq 100 - main 2512(NQmain)$ may still get one more push higher if it holds above today’s low.
It’s also possible SPX already topped, and only $NASDAQ 100(NDX)$ makes a new high, forming a bearish SMT divergence.
If today’s low breaks, that likely leads to the sell signal, targeting 6644-6619
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