It seems that the SP500 is looking for a SUPPLY AREA. It can be above the 50% retracement. Marking it on Chart.
Looking for Suppy:
15 Days ago SPX was looking for BUYERS and now is looking for sellers.
Own the other hand, who is going to sale now that did not previously sold 20, 15 or 10 days ago?
https://www.linkedin.com/posts/randholm_mario-randholm-on-twitter-activity-6653326633216335874-6g20