I had to post another update on the S&P 500 👀 In my last post in mid-May, we broke through the 1.618 Fibonacci level and subsequently marked a new all-time high. While we’re still trading above the 1.618 Fibonacci level, I’m now seeing early signs of weakness. So far, we’ve been unable to form another all-time high; instead, after a fakeout-like move, we were pushed back below our trendline. My assessment hasn’t changed. My targets remain the levels within the blue box, followed by a final selling climax. The upward move between March and May was exceptionally steep and lacked any significant corrections. Markets often correct such inefficiencies or imbalances afterward 🤓