Bull Trap? $SPX Rejects 50%, Downtrend Intact Below 6,760
🚨 BULL TRAP
Today's bounce was a corrective 3-wave move within the bearish 3rd wave.
$S&P 500(.SPX)$ rejected the 50% retrace with a bearish SMT vs $Dow Jones(.DJI)$ .
$E-mini S&P 500 - main 2606(ESmain)$ equal lows at roughly ~6,580 remain the path of least resistance.
Daily close above 6,760 needed to shift the picture.
Until then, this rally gets SOLD.
$SPDR S&P 500 ETF Trust(SPY)$ $NASDAQ 100(NDX)$ $Invesco QQQ(QQQ)$ $E-mini Nasdaq 100 - main 2606(NQmain)$ $iShares Russell 2000 ETF(IWM)$
Beautiful ABC reversal pattern today on $E-mini S&P 500 - main 2606(ESmain)$ 👌
Big things coming
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