Today’s – 07/19/21 sharp decline broke below the micro-crash bottom made on 07/08/21 and could be the kickoff of a larger developing drop. Momentum evidence supports this theory. Daily RSI is 43%, the oversold zone begins at 30%. Daily MACD had a bearish line crossover.
The daily S&P 500 (SPX) chart courtesy of Trading View illustrates a zone of potential support.
A .236 Fibonacci retrace of the March 2020 to July 2021 bull move is at SPX 3941.
A .382 Fibonacci retrace of the September 2020 correction to July 2021 is at SPX 3873.
Note that these Fibonacci coordinates are in the area of the 03/17/21 to 03/25/21 minor correction.
The largest correction of the entire SPX March 2020 to July 2021 bull market lasted from 09/02/20 to 09/25/20 – 15 trading days. Adding 15 trading days to the SPX 07/14/21 peak targets 08/05/21 as a possible bottom date.
Traders are 100% short non – leveraged SPX related funds from the open of the 07/12/21 SPX session at 4372. Continue holding short.
Four Dimension Trading 
Mark,
Please update yoursite when possible
SPX has risen over 120 points from 4233 Low Monday 7/19/21.
with a 100 % Short recommendation from SPX 4372
Thank you,
Joe Soja
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An update will come 07/22/21.
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