@david-k I’m sorry that I didn’t see your question earlier on whether the 60-minute MACD flipped back. No it didn’t but of course by now, that divergence is certainly confirmed with the MACD clearly headed down following the bearish crossover on Wednesday (and no, it never crossed back up yesterday).

Lee, as of now, my max. downside target on the $SPX (before any meaningful & lasting rally) would be 2090-2085. That could change in the comings days/weeks, depending how things develop. On the flip side, if the bulls can ramp the market higher & foil those 60-minute divergences, then I think you’ll see that new high in the $SPX that you’ve been calling for. Again, I favor the bearish case but the next few trading sessions should be very telling.

The 5-minute charts list target for short-term trades (hours to days) but we also now have confirmed divergence on the 60-minute time frames so unless the bulls can step in here & ramp the market above yesterday’s highs (and maybe then some), it would appear that we’re likely to see a multi-week correction, maybe down to the 204 level on SPY & possibly lower. I’ll just have to watch the price action today & tomorrow to see if the markets act like they should following these breakdowns as they’ve been able to foil quite a few bearish chart patterns & breakdowns lately, hence the reason these are only unofficial trade ideas (as my confidence isn’t high enough to make the index ETFs official short trades right now).