Fibonacci 4193.7 support WMA9 line
If this is wave 1, historically won't break 10pt below WMA9 @ 4190.6
However if break below - support @ 4172.3 4166.6 & 4169.8 is strong support @ H4
Is risky to sell short from 4206 where the gain for short is low ~ 40pt (4206 - 4166.6 = 39.4)
Is profitable to buy than sell SPX in this state unless it is bear market.
If this is wave 1, historically won't break 10pt below WMA9 @ 4190.6
However if break below - support @ 4172.3 4166.6 & 4169.8 is strong support @ H4
Is risky to sell short from 4206 where the gain for short is low ~ 40pt (4206 - 4166.6 = 39.4)
Is profitable to buy than sell SPX in this state unless it is bear market.