The gray box in the Chart represents a support-resistance zone in SPX.
SPX has delivered a false upside breakout with respect to the support-resistance zone indicated by the gray box in the Chart.
This past Friday, SPX closed at the low of the daily and weekly bar, below the zone, as well as the neckline of a small head-and-shoulders setup.
The green wave 4-dn serves as a bear trap.
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