$SPX: Yesterday at 6 PM, I sent a major warning to subscribers. Price action finally caught up with the market's overextensions. The gap at $7,273 serves as a reasonable downside destination from here.
$SPX: The bounce on Thursday completed a MACD cross that is worth watching even if there is a red opening this Monday. The new hurdle is the 20DMA, not touched for a month.
Consolidation is likely, but even bear market rallies last more than 3 days, assuming this is one of them.
$SPX: It's great that the 10DMA was finally breached
BUT...
With a gap, and the candle lacked conviction at an essential price zone.
The gap will act as a magnet sooner or later. The recent events suggest: Sooner.
150 likes + 30 reposts for Key price levels for tomorrow.