S&P500 could start a 1 month correction.

6 Jun 2023

The S&P500 hit both targets we set two weeks ago as it reached the top of the 7 month Channel Up pattern:

This is the first major sell signal that we get on the 1D time-frame since the previous Higher High on February 02 2023. Unless the price closes a 1D candle above the August 16 2022 High (4327), we expect a short-term pull-back towards the 1D MA50 (blue trend-line) and Inner Higher Lows 1. Our Target is 4200. This sell signal will be invalidated if we close above 4327.

If we close a 1D candle below the Inner Higher Lows 2, we will re-sell and target the 1D MA200 (orange trend-line) and bottom of the Channel Up at 4000.


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