SPX500 Look For More Bearish Move Down

Hello traders:

Similar like NASDAQ bearish outlook that I shared, we can also see SPX is showing good signs of bearish continuation down move.

from the HTF ascending structure, price had a clear impulse move down from it. Naturally price will correct and form into consolidation if the bearish momentum is still there.

We then see an expanding structure has formed, together with a double tops, and price indeed reversed down from it.

Now, the latest development has shown a consolidation within the larger expanding structure, this can possibly lead to another down move once the consolidation finishes.

Thank you

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