SPX - THIS IS IT!!! 👇

Hold on to your hats your shorts and if you're long you're going to be sore because SPX appears to be falling into the abyss.

You can see with the weekly MAs it has rejected at the 20 and now 50MA with a big sell candle. It looks very likely to trend down now.

And it topped out around that all significant 1.618 - you can see it captured both shoulders of an H&S.

So now the question is what type of correction or crash will be and can you guess my answer is probably as it should be - I dont know, so I wont be catching any falling knives...

That said I am looking at the 0.618 2.9K area as a potential for reversal.

Not advice.