SPX Confirms Bearish Reversal After False Breakout

TRIGGER TRADES
12-13 07:44

After forming a bearish SMT divergence at all-time highs, $S&P 500(.SPX)$ confirmed weakness by closing below the last bullish delivery candle from the FOMC rally — a bearish CISD.

Yesterday’s move now looks like a false breakout, with price producing a bearish 5-wave decline from the high.

If this continues, I expect today’s low to get crossed with downside risk extending toward a 50-DMA retest, and confirmation accelerating on a close below 6715 (Daily FVG).

This sets the stage for a sharper leg lower into the 6400–6350 zone.

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