๐จ THIS S&P 500 CHART IS FLASHING A MAJOR WARNING...
$SPX is now trading at one of its largest deviations above 200 EMA in years
Historically, whenever price gets this stretched, market eventually snaps back to reality
And right now, conditions look familiar:
โข 50+ days of near-vertical upside
โข Retail calling for higher highs every day
โข Smart money quietly reducing exposure
โข Buybacks losing momentum
Problem isn't the rally
Problem is how crowded bullish narrative has become
My first major downside target remains around ~$6,000 and could come into play within next few months.
Without a meaningful reset, I don't see a realistic path toward $9,500-$10,000
Chasing here feels dangerous
Wait for discount - turn on notifs, I'll update