Yesterday marked the fourth time in the past two months that SPX tested the same important Fib level.  The failure to maintain a trend is becoming…well, a trend. Will SPX keep playing the same old song or is it finally time for this trend to be broken?

continued for members…

The bigger picture for SPX:

And, the ES version… Within another session or two the MAs will all be bearishly aligned: the 10,20, 50, 100, 200 – all in a row heading south. Note that yesterday’s move accomplished the broken red channel backtest.

ES’ bounces at the 1.618 are hard to miss.  Note that the channel doesn’t reach 4153 until May 2, so it’s entirely possible it’ll bounce around this range for another week. VIX is off yesterday’s highs without having really hit anything yet – telling me that the men behind the curtain are trying to get ES back on the falling white channel track.DXY has pushed above its 2020 highs – with more to go IMO… …thanks of course to EURUSD which just broke down below 2020’s lows. Yesterday’s lows were probably enough to satisfy BTC’s yellow channel bottom tag. It’s bouncing because everything else is……but will also resume its decline if/when everything else does. Remember, it still owes us a tag of the blue .618 at 28,754 and the Flag Pattern constructed over the past 3 months targets 12,184 – right next to the .886 at 11,282.CL and RB are off slightly – nothing significant. It leaves TNX in essentially the same spot.GLTA!