#S&P500

Overall, I’m currently leaning more toward a short scenario.

We’ll likely see a downward impulse move that sweeps the built-up liquidity. There’s not much above, so I’m expecting a move toward the 7150 area, possibly even lower — down to around 7100.

At the open, we’ll watch the price action. If a reversal structure forms (through taking out the nearest local low), that will be the first confirmation of a shift, and then we can look for entries on the pullback.