$E-mini S&P 500 Futures(DEC4) (ESmain.US)$$S&P 500 Index (.S...

$E-mini S&P 500 Futures(DEC4) (ESmain.US)$ $S&P 500 Index (.SPX.US)$ $SPDR S&P 500 ETF (SPY.US)$ SPX hit a new high yesterday. But it is in a more dangerous zone now. MFI is still showing lower high although the price action has created new high. And the MFI divergence is huge. Look at my graph and you can tell. If SPX has any pullback from here, it will create a lower high on MFI yet higher high on price action. And we will see another huge pullback like we saw in December period.

The only alternative for SPX will be a huge melt up to the top until the MFI creates a higher high signal before pulling back. Otherwise this will mean in early 2022 we are going to have a huge pullback coming or maybe the long awaited correction.

As always trade safe and invest wise!

Do subscribe to my YouTube channel for your once a week TA and market outlook!
https://www.youtube.com/c/investing101channel