SPX500 Prepare for reversal down

Hi everyone:

Similar approach like DOW JONES, as we can see the similar bearish price action here on SPX.

Price has been in the higher time frame ascending correction for quite sometimes now. Few attempts to impulse down and breakout structure, but none has been able to.

As we know, price action can continue its consolidation phase for a long time, and its important to be patient and wait for the right setups to form.

Latest price formed a smaller ascending structure, and seems like price is breaking down now.

To confirm the downside, be on the lookout for LTF bearish correction
before entering any sell.

IF price does push out of the HTF correction,
then watch for further correction to develop and push price further.

Thank you

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HTF:

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Close down for +1% profit