SPX Big Drop Incoming?
Confirmations: Price has rejected resistance, which was previously support. Weekly candle engulfed previous week candle with exhaustion wicks at the top. Double top on daily chart at resistance. Bearish engulfing on daily chart at resistance. Fibs show rejected at a key level(61.8) and price target shows $408 for (-27%). Also bad news expected to come soon regarding interest rate hike(s). Puts in march looks like the move, would love to hear everyone's thoughts/ideas!
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