VALUG loves double tops and levels. Having failed to retest the highs, this appears to be a failed break like the last one, which saw a breakdown of previous support at least.
Inverted weekly with a "bullish" divergence and W "bottom" forming similar to how DXY bottomed earlier in 2021. Like, identical, so worth a look dxy example:
Futures when it formed The Top of 2020, versus the current wedge formation off the 2020 lows on SPX Let's see how it plays out