Bearishly Engulfing The Weekly At Critical Levels: SPX Update #3

I have been tracking this channel for awhile and giving occasional updates on the price action within it and i am seeing that we bearishly engulfed the weekly at the top of the channel as bearish divergence continues this may signal that this would be the last week we see any sort of attempt to achieve higher highs for a long time.

Additionally we are at a 1.618 Fib extension so this would be the perfect area to reverse from.