SPX is following the same structure. It was rejected again from 7.58K-7.6K, the same area where I called the top. 7.27K is the first support, followed by 7.11K. A sustained close above 7.58K would negate the immediate downside path.

As warned last week, NDX broke below the ascending trendline and resolved the wedge lower. Price pierced 28.6K on Friday before closing back around the level.

28.6K is the line in the sand. A sustained break below it opens the door to 26.1K. NDX needs a sustained move back above the ascending trendline to invalidate the breakdown.

ES failed at our 7.63K resistance, reversed sharply on Thursday and Friday, and closed below the ascending trendline on Friday. It has now opted for the immediate breakdown path I outlined on Wednesday. It is likely to head lower, with 7.36K as the first support, followed by 7.14K. A close back above the trendline over the next few sessions would turn Friday’s break into a fakeout, which I think is very unlikely. I expect any retest from below to fail.