Similar to my analysis on
NAS100
, I also anticipate a decline in the case of $CBOE:SPX.
The index attempted twice to remain above 5000 but failed, and it appears to be forming a double top in that area.
From a technical standpoint, the trend remains strongly bullish.
However, a drop below 4930-4950 would interrupt this aggressive uptrend and expose the 4800 support zone.
NAS100
, I also anticipate a decline in the case of $CBOE:SPX. The index attempted twice to remain above 5000 but failed, and it appears to be forming a double top in that area.
From a technical standpoint, the trend remains strongly bullish.
However, a drop below 4930-4950 would interrupt this aggressive uptrend and expose the 4800 support zone.
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