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SPX down in Asia

After breaking the 76 and putting in a small retracement (Shorting opportunity) SPX has broken in the open and is now trading down very close to the 127 fib.

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This is an example of the propensity for the 76 level to be an inflection point in the near term trend. Read more about this here.

https://preview.redd.it/vv33mrbsul681.png?width=1919&format=png&auto=webp&s=af3776067567d901ab887ae644a9d2d36cc6bd1a

Next we're looking at the 161 as our big break level. 127 is also a hold/break level but not one I use too much. A bounce from the 127 before a further move lower would not be uncommon and it's another place I'd short into a rally with stops above the previous high.



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