Q3 Earnings are going to hurt SPX

The SPX is still following the 2011 pattern and I still think we should retest the low. The retest we saw last week was not relatively important. My target was not hit last week (around 1850) and then I still have a bearish sentiment.

Technically, the SPX is having a rangy trajectory and as we are at the top of the canal, it could be a good opportunity to enter with a new short position.

I keep my target at 1850 to bull again. My "take profit" target is around 1900.