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SPX liquidity engineering in progress

Hello analysts and traders.

Price touched the trendline on the 4hour chart.

SPX500 needed to created a descending channel after the high to engineer some liquidity for continuation of long positions from the all time high [equal].

Where did price fall to?
Key trendline creating a lower high.
Why is this important?
Look left - the white candle shows an imbalance on the previous bullish engulfing.

We are currently long but await the next buy from a daily low.
Key:

4 hour = orange trendline
Green zone - daily, weekly targets

See the wider picture

See our last trade:

S&P 500 - Fibonacci rejection - upside active

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