S&P 500 Index
Short

SPX Head & Shoulders Top on Daily... Watching for $5600 to $5200

72
Hi Traders,

SPX is showing signs of a potentially bearish formation—a head and shoulders top.

Historically, this pattern has signaled increased downside risk for equity markets.

As the price draws closer to the neckline, a break below could take us to the next major support level around 5,600.

This will be a crucial zone to for traders and investors to monitor closely.

Market conditions could sour quickly and an accelerated drop should cause traders to act cautiously over the next couple of weeks.

Good luck out there.

Mark

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