#SPX is back to testing a key price level. The furious rally has brought the market to the level, break of which started the bear market of 2021- 22. There are momentum divergence, breadth divergence popping up.
How far the price retraces will determine course of markets over rest of summer.
Heavy earnings on deck rest of the week - which I think will be more pivotal than US rating downgrade. I am positioned with put ratio backspreads!