S&P500 Sell signal confirmed

The S&P500 (SPX) has had an excellent run following our buy call more than one month ago:


Yesterday though it flashed a sell confirmation as the price broke and closed below the Higher Lows trend-line of the recent Channel Up bottom. Both previous times this happened (December 06 2022 and February 17 2023, it was a major sell signal towards a new Channel Up (Higher) Low. Additionally, the 1D MACD has made a Bearish Cross.

The Support Zone 1 that is currently being tested, has on those previous fractals provided the first layer of accumulation that later broke and targeted both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line).

Our target is 3915, just above Support Zone 2, which was hit during both previous corrections.

Invalidation of this pattern will happen if a 1D candle closes above the Lower Highs trend-line, in which case the 4195 Resistance will be targeted.


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