Markets set up for downside volatility
- SPX has been up only since crossing previous ATHs.
- Q1 just closed and Q2 day 1 is closing below the closest weekly levels.
- Don't fade an upcoming price expansion (or 2) in this month.
- Immediate key downside support for SPX is the prev ATH, which is 9% under from here.
Invalidation -
- SPX daily close at ATHs.
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