A perfect harmonic butterfly pattern has formed on the S&P 500 (
SPX) index based on today's closing data, indicating a likely market downtrend towards the area outlined in the chart. This outlook is supported by multiple technical indicators, most of which are showing bearish signals. It's worth noting that the recent bounce originated from a cluster zone, which reinforces the strength of the analysis.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.