SPX rejected by the strong resistance confluence
SPX has been rejected by the strong resistance confluence 4400. It is a rising wedge apex and a key upside extension resistance and a break above this resistance could lead to a strong extension higher. There was a spike in selling volume yesterday and that could be an early indicator that the rising wedge will be resolved soon, but we need to wait for a price action break above or below indicated levels. Additionally, this could be the end of the 5th impulsive wave from the 2020 low.
Note: you can take the long trade upon a break above the 4400 or a short trade entry upon a break below 4280 with the stop loss above 4350
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