Jul. 5 at 9:17 PM
$SM is tightening up inside a textbook descending triangle, and this is usually where the market stops pretending and picks a direction.
Price is compressing, volatility is drying up, and the next move is likely going to be sharp once it resolves.
Statistically this pattern leans bearish, but the interesting part here is what’s happening underneath. RSI and MACD are both showing early bullish divergence, which usually signals that downside momentum is fading even while price stays pinned near lows.
MACD hovering near a potential bullish cross adds to the setup, but nothing is confirmed yet.
This is still a “show me” chart. Break above resistance could flip sentiment fast, while a breakdown keeps sellers fully in control.
Watching for expansion, not prediction.
