" Bearish Island Reversal " Daily Update May 2,2023

With this morning's gap down,
Monday's May 1,2023 entire trading range in the S+P 500
has become an "island". That includes all price between 4186.92 and 4164.42 ( See Chart)

Technically that is a very bearish overnight occurrence,
and it is revered to as an "island reversal" in technical analysis.

Readers of my Daily Update on May 1,2023 Column
were "forewarned" of a KST Sell Signal,
confirming this mornings price breakdown.

"Minimum" Downside Objective
SPX 4145.00 !

S+P 500 10 AM OPEN 4150.47

THE_UNWIND
WOODS OF CONNECTICUT