S&P 500: That Ain't A Top (Technical Analysis)

Market Overview - The week began with a significant upward movement in the market, reaching new highs, but reversed lower by Wednesday due to the Federal Reserve's comments dampening expectations for a rate cut in December [1] - By the end of the week, the S&P 500 index had closed lower, reflecting the market's reaction to the Fed's stance [1] Analyst Insights - Andrew McElroy, Chief Analyst at Matrixtrade, emphasizes a proprietary top-down system developed over 15 years, incorporating fractals, Elliott Wave, and Demark exhaustion signals, alongside macro drivers and market narrative analysis [1] - The 'Daily Edge' report produced by McElroy provides actionable ideas, directional bias, and important levels in the S&P 500, as well as insights into commodities, stocks, crypto, and forex [1]