SPX technical play (very easy)

This week is the Fed speech on Wednesday. I believe that Monday and Tuesday could see 4000 - 4005 before Wednesday gives a little bounce and maybe close out the week positive. People and machines buy corrections but you should not buy this one.

It may generate somewhat of a bullish looking reversal if you monitor this weekly candle for the next few days, but the week after it closes it will end up breaking down and moving to 3870 - 3920 right where the 200-day weekly moving average is.

There is also a Fibonacci level so there are multiple reasons to like 3920 for a price target.