Short term prediction Spx

3 Jan 2023

Spx is in a classic consolidation bear flag pattern in my opinion whilst being resisted off the 50 day SMA, We've had low volume over these last two weeks which is characteristic of such a pattern signalling the end of the consolidation period, I expect a gap close to fib level 0.786 (3863.88, 3865 approx) and then a crash. Price action will be resisted off of EMA ribbon + 1 hour 2 dev reg line + 0.786 fib.