In our previous analysis on SPX we noted the bullish potential but the only condition for this scenario to remain valid, was for price to stay above 4350-4360.
By breaking below the green horizontal support trend line we got a new bearish signal. Price has already lost more than 100 points from the broken support of 4350. Trend remains bearish. This new lower lows have been confirmed by the RSI with lower lows. Bears remain in full control of the trend.
