SPX having difficulty breaking above 2,160 to confirm its summer breakout Now also having difficulty remaining above previous historical high (2,134.71) All the while we are fast approaching US elections and rate hike Volatility has been extremely low and is bound to pick up - This is already taking place with VIX >17.00 Gold also supportive of upcoming potential volatility spike: Flat when stocks go up, up when stocks are down MACD trend negative on Daily chart RSI trend negative on Daily chart Watch a break/close below 2,120 for a confirmation/continuation of downtrend Watch break/close over 2,160 for resumption of up-trend
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Break below 2,120 confirms weakness
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Break confirmed This idea has now been updated Please refer to link below: "Is this the correction we've been waiting for?"
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