As we are approaching that 3,000 level we must think about what happened here before. Price has just formed corrective price action towards this level in an Ascending pattern. I am expecting price to reverse from this area, although I would not be surprised if we slightly break it, catching people out thinking price is heading higher then it will slam down. If price did break the 3,000 level I would expect a very aggressive bearish move.
Chart PatternsshortS&P 500 (SPX500)Trend AnalysisWave Analysis

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