📊 S&P 500 Index Bearish Wave Count

Here the RSI peaked in July, by the time we get the lower high in December that's a 5 months bearish divergence.

It is a bad omen to start red; The year, the week, the day.

The S&P 500 Index started red and I believe this is part of an irregular correction.
We are set to experience lower prices.

I don't see a way to go back but this can be invalidated if the SPX moves and closes above 4793 weekly.

Prepare for the correction.

Namaste.

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The last five days red. Today ends on a very strong negative tone with a close below EMA21 and bearish candle:

This is pointing towards lower; Bearish bias becoming stronger leading to Friday.

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The DXY going to 106, which means that the SPX, Gold & Bitcoin are going to crash.

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We have a new high 10-Jan on the SPX, which works as a short-term double top (26-Dec).

10-Jan 2024 we have the highest price since Jan 2022.
This can also be read as a long-term lower high or long-term double-top (Jan 2024 vs Jan 2022), the signal works the same in either case; bearish.

The RSI peaked July 2023, we have the same signal, either a double top or lower high:

Both can be read as bearish signals.

I can easily say that the correction is confirmed but prices still trade really high, above EMA10, etc., so it is early but volume has been dropping and the drop/crash can be sudden and fast.

Confirmation is needed as it is really early, we are still looking at the top.

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It is of a high possibility that the new ATH hit today signals the end of the bullish wave.