SPX index - 2,3 weeks of bull run before a drawdownS&P 500SPCFD:SPXChipsnCheeseSPX has been showing signs of forming a local top in September. Elliot waves on larger time frame, combined with Demark and divergence signals are showing a completion signage. We have a strong bull move coming up for the rest of Aug and for 1st week of Sept to reach almost 8k levels, post which, Index will come down to 7k (almost a 12-13% correction) While 12-13% looks small, tech stocks - both software and AI hardware (semicon) will be hit harder. Calling out a market top always comes with its own risk so instead of selling positions, I would suggest hedging positions or keep a trailing stop loss activated once we reach the marked levels. New investors to market should absolutely wait for now as the risk reward for next 1-2 months time period is not looking rosy.