S&P500 (SPX) Current Status = Dancing on the Edge

Overall outlook for S&P = Bearish.
Already hit 4.236 Fib Extension this market cycle. Currently sitting below Moving Averages. Not oversold on mid & long-term RSI.

For any chance of this being a "Bullish" ABC correction, the price would have to reverse above its 2020 top of Wave 1, forming a Double Bottom (to allow the Elliot Wave count to continue upward with this last push as Wave 5.

Currently, the S&P continues to enjoy torturing us by dancing on the edge of the cliff.

While it's possible this could hold, exercise extreme caution.
Double Top or BottomElliott WaveMoving Averagessp500indexS&P 500 (SPX500)stocksignals

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