Technical analysis by chestephens1 about Symbol SPYX: Sell recommendation (8/11/2023)

Notice how we have tapped 4600 which an extreme overbought level. SPX must retest a lower level of 4380-4330 and if it does not hold it should freefall to 4200 in prep for Q4. SPX has been in a bullish outbreak since march 2023 with only a slight dip in june 2023. a correction is due. I am using SPXS as the inverse of this play. I do have a sentiment which is: when the Dollar is up, stocks are down and VICE versa. We are noticing incoming strength from DXY which is causing a shorting of SPX and other index + stocks. Trade wisely