$SPY 5 Wave Decline Signals Another Leg Lower Ahead

TRIGGER TRADES
04-01

$SPDR S&P 500 ETF Trust(SPY)$ produced a bearish 5-wave decline from the highs.

That structure DEMANDS another leg lower.

We've now retraced ~30% of the overall decline and are inside Daily FVG resistance at 6454–6568.

Expect price to cross the 2/4 trendline near 6550 — then the next wave down toward 6178 sets up.

This rally will get sold HARD.

$S&P 500(.SPX)$ should not close above 6568.

Warnings were sent.

We were leaning for a rally back to the PDH.

5-wave down with bullish SMT (YM).

$E-mini S&P 500 - main 2606(ESmain)$ delivered.

$ES +230 handles since.

Bull trap.

As warned.

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