Bullish continuation?S&P500 has bounced off the support level which is a pullback support that aligns with the 23.6% Fibonacci retracement and could potentially rise from this level to our take profit.
Entry: 5,784.04
Why we like it:
There is a pullback support level that lines up with the 23.6% Fibonacci retracement.
Stop loss: 5,689.40
Why we lik eit:
There is a pullback support level that is slightly above the 38.2% Fibonacci retracement.
Take profit: 6,003.35
Why we like it:
There is a pullback resistance level.
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SP500FT trade ideas
SPX500 H1 | Overlap resistance at 61.8% Fibonacci retracementSPX500 is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 5,881.33 which is an overlap resistance that aligns close to the 61.8% Fibonacci retracement.
Stop loss is at 5,945.00 which is a level that sits above the 78.6% Fibonacci retracement and a swing-high resistance.
Take profit is at 5,823.81 which is an overlap support.
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Looking at Examples of 4.23 Breaks If markets continue to make shallow dips and rally higher, or even if there's a big sell off and false break of the lows that makes a V recovery then we're seeing a whole lot of things up-trending above massive inflection points. In this post I want to show you some different examples of what has happened on 4.23 breaks.
The 4.23 level is a very high probability level to trade off. Even on an intra day basis this will most often have at least reactions and can have full reversals off it. You can see in the SPX chart that the 2022 top came off the 4.23. When a 4.23 is going to be a reversal level it will often react to the 4.23 spike it out. Come back under and hold a retest. Forming a head and shoulders pattern with 4.23 as the shoulders. That setup when successful is a fatal setup for the trend. When inside the 4.23 head fake you're inside the end of the trend.
Interestingly, not only is SPX at this 4.23 level but so are lots of other things. Bitcoin is, for example.
BTC is often a good proxy for risk on/off so it's interesting this is at this big decision level along with SPX is interesting.
In the 4.23 reversal the rejection of rallies can be so strong and abrupt there's not a chance to do anything during it. You really have to think about it in advance.
But if the 4.23 break it's extremely easy to the upside for the foreseeable future.
Let's start with looking at the different 4.23 decisions in AAPL over the years.
This first one shows how the head fakes can be the end of rallies. This correcting relatively shallow compared to the full risk. Holding the 2.61.
From this pullback and 4.23 break AAPL went up 200% without any sizable pullbacks.
Advancing to the further swing.
In this one AAPL began to go parabolic in the run to the 4.23. Got a bit above it. Crashed back to it. Held retests and then went into a big boom move.
Almost every week closed higher in this period which continued until over 100% above the 4.23.
We advance the swing again and ... what's the chances?
AAPL last top is 4.23 and now we're retesting the 4.23.
Now ... there are different things that can happen. But if you were to assume the 4.23 pattern in AAPL continues it'd have to do this.
And if you believe that is possible (and it's possible) then the SPX chart in the OP makes a lot of sense, right?
Expecting BTC would do this would be obvious if indices made that move.
Look at NVDA.
To overlook the risks of rejection would be fatal if wrong (this could be a simple head and shoulders like pattern) but viewed through the lens of a 4.23 pullback this would have a hyper bullish forecast to it.
Over and over again you can make this case for things doubling without any major pullbacks. Candle after candle up-trends.
It would not be a time to be a bear!
Here's a look left on NVDA. If you had fibs from the crash range here was the 4.23 decision.
We could be somewhere like here in NVDA.
These are things you certainly have to respect the risk of as an active shorter of things. It'd not be good. And they're such massive outsized opportunities if they form like this that it'd be insane to not prep for what to do in this. If week after week after week is closing green and we never trade under the last week - a smart trader can build a massive position in that.
Think about the positions you could build in these periods where the market never crosses your entry again.
And then wait and start to trail stops when it goes parabolic. During this period there will be 10% jumps up and the trend of shallow pullbacks will continue.
Carrying a bear bias into this would be bad because although the trend never breaks there a enough pullbacks to mean you can easily end up bearish in the worst rally zones. If betting on things like bull traps/spike outs.
These moves above the 4.23 are very common. A sharp doubling of the trend happens above the 4.23 a lot!
If SPX is going to break it and have the common reaction - everything is going vertical. There are lots of things that are at the 4.23 zones now and you can add 100% onto the 4.23 and think it's probable it will get to there and head fake over it a bit. 100% should be a fairly "Safe" target for the 4.23 break.
More speculative ideas would be to look for things that are currently down a lot and draw a fib from the high to the low of those. If we enter into a mania condition where indices are up every week then we might see mania in the hyper speculative things that were in favour previously.
Example;
Not think this sort of thing works on doge?
We have a current 4.23 top and a drop to the 1.27. That's the full predicted correction off a 4.23. It's not always the bottom - but this is the target for a 4.23 drop. Doge may have completed a full 4.23 cycle and be heading into the next. Absolutely possible. If that were true, this would be set to begin to trend very hard.
The consideration has to be what if SPX is here.
It'd be fair to say the odds of this are low but how high would they have to be to make it worth considering?
People act as if the idea of considering massive downside risk means you're scared to take upside risk. Which isn't the case. If anything, I am advocating for more aggressive upside risk betting on the solid trend continuation with tight trailing stops if the breakout is made. Inside the area where we have most chance of a pullback in an uptrend and a wipe out top in a reversal I'm extremely aware of what those risks might look like, but I won't be "Side lined" in a breakout. It means I don't want to broke if the extreme risk thing happens.
Indices could more than double or more than half off the 4.23 decision. We're in a really interesting time.
If we break I plan to trade as if we're going to be up and up every week. Only take long setups. Maybe have a few macro short levels along the way but be mainly a perma bull. If we get the consistent buying weeks I'll expect all dips will be bought and the uptrend will turn into a parabolic run, I'll act accordingly.
And if we start to get massive 10 - 20% weekly candles somewhere over 10,000, I'll suspect that may be blow off action and start to think about fading. By this time we'll be at the next set of important fib levels and I'll use a very similar form of analysis.
If you use any half decent trend strategy with a stop loss you really can't lose money in a typical 4.23 breakout. Even those mindlessly buying with no downside control can run up a lot (although it's questionable if they get to keep it or not).
The fact this is a possible outcome for bears if the resistances fail at this level is something I think macro bears should consider, deeply. Because you don't have to "Be wrong" for this to happen. If your thesis this is all a big stinking bubble - your biggest risk isn't you're wrong, it's you're right! And we're inside the bubble. Not at the end of it. Bubbles FREQUENTLY double into their end points.
This would be a major opportunity for any who embraced it. I do think seeing this happen would be warning things were going to get ugly later but the money to be made in the 5000 - 10,000 run would be exceptional. Accumulating intra day/week with trailing stops would probably see you hit trailing stops about three times most of them you getting in lower and you could end up making 1.000% for the 100% the market went up - and do this while keeping risk capped low since you're always trailing stops to lock in profit.
The opportunity isn't in the price forecast/% as such. It's more in the fact that if it is right it should be evidenced by those periods of extremely consistent trend. These will go on for a long time. Be interrupted. Chop / drop and then resume. The amount you can make in those types of trends if you expect them is off the page. And it'd be easy. There's a few times it'd be tricky and these can be deal with by simply waiting - because later it will be easy.
What makes this all the more important to consider for bears I think is the fact that we could say the highest probability way that SPX makes this move is by dumping under the last low to retest the 4.23 first.
Which would feel very bearish. Very "I should sell the rip" ish. The move that this would make is one I already have marked in as a warning that we could end up going significantly lower. I have to understand all those conditions could fill and even although it all looks exactly like a bear setup, it's actually a 4.23 retest. Very different things for the next swing.
Every major high and low in SPX during the last decade has interacted with the fibs from the 2008 low. They've marked out the highs/lows better than anything else.
We're now at the most important one of those. It hit in 2022 and since then we've been inside the suspense period of it. The 4.23 reaction didn't tell us all that much. A 4.23 spike out doesn't tell us all that much. Both of these things happen in the bull and bear moves. But the actual decision after the attempt to break 4.23 matters a lot.
Whatever happens here is likely to be the most pivotal decision point so far.
S&P 500 Daily Chart Analysis For Week of May 23, 2025Technical Analysis and Outlook:
The S&P 500 Index demonstrated a consistent downward trend during this week's trading session, reaching a significant target at the Mean Support level 5828. The index is currently trending lower, targeting the Inner Index Dip at 5730, with additional marks identified at the Mean Support levels of 5660 and 5600. Conversely, the index has the potential to rebound from its present position, advancing toward the Mean Resistance level of 5860 and retesting the previously completed Outer Index Rally at 5955.
Bear Case Requires Downtrend Action. Strong Bull Bias Otherwise.With the recent breaks the odds are strongly towards 5500 hitting and if that breaks the odds are greatly for far lower hitting but I want to take some time to make sure I am clear on the binary nature of where we are.
The market is in a "Might go up, might go down" spot. Probably won't go sideways for long. I think we're probably going to see strong trends coming out of whatever decision is made here.
First thing I want to really drill in for my bear friends is a sell off from the 86 means nothing at all. Most of the time this is a bear trap. We have broken the first level it may have bottomed so the bias is strongly towards the next ones hitting but having a strong bear bias at this point in historic SPX setup would have led you into a lot of trouble most of the time.
If you fade trends the thing you always have to be worrying about is you've got this "pretty much" right but you're actually one swing too early. Because when that happens, the last swing is always exceptionally strong.
Fading trends is hard because if you're wrong it trends against you and if you're 95% right it spikes against you in the most ruthless of ways. What makes this all the worse is that comes off a correction in the trend so you end up with a bigger zone in which you're wrong. For example if we began to rally here there's now about 4% extra you could be wrong while saying we're still inside the last high.
Any time you're fading a trend and it's going well you should think of this risk. You have to map in the risk of a 161 head fake. These happen a lot. A common thing in blow offs. If you're right about the reversal after this move the short will be easy - but it's not easy to take if you're short bias into it.
Given the broader context of everything, I don't think I favour the 1.61 head-fake being the outcome if we rally. If we rally again then we're seeing prolonged big chart trending action above the macro 4.23 and I've only ever seen trends getting stronger when they can break a 4.23.
If the 1.61 breaks we can end up at the 4.23 - which would be a monster move.
The instance of a 4.23 hitting from a 50% crash are extremely rare. Every instance of it there has been in indices has led to a massive trend decision. All instances of bubbles tend to have clear changes in their momentum when breaking 4.23 fibs.
SPX is already above the 4.23 fib. The bear thesis has it this is a head-fake of that. It needs to be evidenced by a strong rejection of the head-fake.
Earlier I mentioned the tendency of 1.61 head-fakes. This was the most recurring big obvious topping signal I found when looking at crashes. We'd usually dummy drop and then make a 1.61 spike out. This is the rule I use to tell a pending false breakout from a breakout. If it breaks the 1.61, I expect it will get at least very close to the 2.20. If it can not break the 1.61, then there's a strong chance it may be topping.
Our current top is on the 1.61 hit and we're now into a retest of that.
The 1.61 sell off is interesting because if it's a 4.23 reversal we have to be in a head fake above it and if it's a head fake we are looking for a 1.61 spike. These things make the speculative bets into the retest compelling and the pragmatic "What if" planning for a break worth covering. A 1.61 reversal would be expected to be a nasty event.
A 1.61 reversal would take out the last low (by definition, it's just a bit pullback otherwise) and it would do this in a strong consistent selling manner.
Which would be crash like on this timeframe.
But the 1.61 reaction is not in any way prescriptive of a crash at this point. A common pattern is a big pullback from the 1.61 and then when it has been broken again it goes into a strong rally to the following fibs. This can top on a few of the fibs but full extensions in strong trends spike out 4.23.
Inside the context of the overall building of the trend what is happening now would be insignificant overall. Even if dropping all the way to 5500. A full expansion of this would agree with the other fibs we had around the 10,000 level. Furthermore, a doubling period off the breakout of a 4.23 I'd consider to be a highly probable outcome.
If the bear thesis is wrong here it can be wrong in a way that is irrecoverable. A persist bear will get you slaughtered.
The case for a potential bear move here is extremely strong but that does also tend to mean the failure of it would be all the more spectacular. It makes a lot of sense to bet in these zones because there's a high chance you can at least break even on short term reactions and can perhaps make a lot in bigger reversals.
It's pragmatic to be aware of what the larger risks of a reversal would be and how the swings in that would likely form. You have to think about these things ahead of time because otherwise it all happens too fast to really have time to think. Impulse decisions are usually bad.
I have a high degree of confidence in the fibs being able to map out the important levels. My ability to know what that means ... not so much. I may or may not get it right.
What is highly likely to be right based on 100 yrs of swings in SPX is the next major swing will relate to a previous swing in such a way that fib levels make it possible to get a good idea of the major highs/lows of the move. All the ways we can do that from here imply massive moves. If it's not 50% off the high it's 100% from the 4.23 break.
How all this relates to where we are at this moment in time is we have to accept the potential of the bear bet being so wrong that even if there's a crash later it comes back to this price - meaning if it doesn't work here- entirely drop it and aggressively trend follow. If the bear bet is right we have to be inside of a 1.61 head fake of a 4.23.
If we're inside of a head fake is has to sell off very consistently. We crash back to the break level. Price "Isn't meant" to be above that level and when the brief flurry is over it's nothing but selling.
The consistency with which this style of rejection has is uncommon so it was really weird seeing it off the first 1.61 reaction. For the rejection thesis to be valid now the pullback in is we should be in the second trend leg which will complete the return to 4.23. If it's the second trend leg it can't be weaker than the first. The first was extremely consistent.
From my perspective that's the bear bet. It's really specific for me at this point. If the bear thesis is going to be good we're inside a 1.61 head fake. The 1.61 is retesting and when it is rejected for a second time we're into a strong downmove to where the false breakout started.
What it would take from the prices we currently are to turn me into a hyper raving bull that was discussing different bubble moves that may be about to build up is not a lot at this point. It would take very little to convince me to start to buy all the dips with tight stops and it'd not take all that much longer of that working for me to say it was extremely likely all the implied bear risk was behind us and it's all rockets and emojis for the next two years.
I think when it comes to what the next big swings will be in markets it's important to be very objective because it's wild just how easily juxtaposed ideas can make sense. For example, AI. One could make a bulletproof case that we should expect a productivity boom based on AI. Lots of people can do much more. But you can make the inverse forecast that AI will be deflationary. Bringing prices down. Creating job losses. As jobs are lost, less money is spent - especially if things are deflationary because you can buy it cheaper later. Less money being spent is less business income and more jobs lost. Companies that survived would likely main use AI and it's easy to see how all that could end up being bad for markets.
There are a lot of things like could go either way like that and have polarised reactions in the market but something related to AI is almost certainly going to happen. If AI advancements don't stall out rapidly they're going to start making real changes in the things happening in the world - this could easily justify a bubble or it could put prices into a race to zero.
Then there's weird things like what happens when AIs become more and more of the trading volume - surely that's coming ... right? What will they do? It's something you can again make binary extreme cases for. You could make a case that the AIs would notice patterns of a topping market and start to trade in a way that brought about a crash. Or you could argue AIs might start to engage in some form of reward hacking and the way to optimise success is to drive the market vertical.
I don't really see the point in narrative based analysis but if you do a thought experiment where you imagine the market either has crashed or has doubled rapidly it's now easier than it ever has been to find different viable ways you could work backwards to how events complimented that.
It's wise to be agnostic and evidence based while we're at such a big decision level because the potential to be wrong big is so great and the likelihood you'll be bluffed into thinking you're right just at the worst moment is so high. Maybe bulls have had that now. But even if we sell and make a new low, this may turn out to be a second leg of a bear trap and be the low- being wrong from there as a bear would be even worse. Runs to new highs could come before a crash.
If and when the decision is made it should be easy to make money. The 4.23 break would be far better to make money. The trend lasting over a year. A bear break would be trickier with the ups and downs of a bear market but lucrative for the correct strategies. The important thing is being equally acceptant of either outcome - and also accept the reality that neither of the implied outcomes may happen. Which would be a huge anti-climax for me. Really would. If whatever happens next is vanilla, I'd feel a bit cheated.
The 4.23 rejection off a 1.61 spike out would be a very exceptional thing. It should be evidenced by exceptional action.
If the bear trend is not persistent, there's a good chance it's not working. Up-trending through the resistance levels would make the bear case indefensible in my opinion and in the event of a typical 4.23 break make being bear bias into the future certain to fail no matter how good you are at it.
The down move has a lot of proving it to do yet before it crosses from an expected move in a bullish pullback to a real threat of a trend break.
At this point both would look exactly the same - what we see in the coming week is likely to be more telling.
SPY ready to continue its up-trend?!?Now that price has pulled back, we’ve seen a reaction from the daily 20 EMA, forming what resembles a hammer candlestick. This could signal that the uptrend may be ready to resume.
That said, Monday will be key. If the market continues to show strength, it may confirm a continuation to the upside. But if price drops instead, we could be in for a deeper pullback.
⚠️ Remember: just because we’re in an uptrend doesn’t mean the market can’t reverse. The market is unpredictable, and that’s why reacting to price behavior at each point of interest (POI) is so important.
Stay flexible, manage your risk, and trade what the market shows you, not what you expect.
Another leg of bull market comingBeing bearish in the stock market—especially after such a big correction and a V-shaped recovery—is definitely not a good idea. Probability and past history are against you. If Trump succeeds in bringing more jobs by tarrifs and reduce government expending as he promises, it could easily keep the uptrend going for the next two years and push past the 10,000 level, just like 2018 and 2020
S&P500 tests the upper border of the rangeThe S&P 500 index is concentrating in the massive triangle below the psychological level of $6000, and given the overall neutral to good market sentiment, it’s not expected to plummet from this area before testing the area of $6000-6200. Should the breakout of this zone happen, it’s not expected to be sustainable and may quickly revert back to the range, as traders are quite cautious right now and the market is prone to liquidations and quick profit taking.
Don't forget - this is just the idea, always do your own research and never forget to manage your risk!
Come on SPX! Let's cross back over 6,000Stop playing with me SPX. So far this week, we've seen a slowwww drift up. Ok, Monday and Tuesday did put in some solid bars, but now here we are, babying this 6,000 psychological area.
Below is my write up from Sunday. While I always state different scenarios, I've been leaning bullish...though some of my individual stock plays have retested my stop levels this week. (They have been a bit more sideways)
SPX (written Sunday 06/01/25)
Still above key weekly MAs, trend remains intact
The weekly chart still shows an uptrend. We're above the 10EMA, 20EMA, and 50SMA, and those moving averages are turning up. So while the pace of the uptrend has slowed, the broader structure hasn't broken down. This past week was a digestion of the recent April and early May run, and so far, not an unraveling of it.
Friday's dip was likely just a shakeout.
Friday gave us a candle that flushed below the daily 20EMA then quickly reversed. That kind of action often traps early shorts and clears out weaker long hands…a classic shakeout. If this theory holds, we should see strength early next week. But if we break below the 5750-5725 area, that thesis gets invalidated. At that point, I'd treat the move as something more structurally weak, not just a pullback.
Confluence zone still holding for now
We're sitting right on a layered area of support above all moving averages, and a horizontal support and resistance level from earlier this year. So far, it has held. If it continues to hold, it gives the index a platform to try the upside again.
Trendlines matter, but not more than the overall structure
I was asked about trendlines this week, and it was a good reminder to step back and recognize how I was sharing my use of them. Trendlines are helpful, but they’re just one part of the picture. Same goes for moving averages, volume, and other tools. They only hold weight relative to the context. In a choppy, indecisive market, over-focusing on any single signal can do more harm than good. I'm aiming to keep my analysis well-rounded, zoomed out, and centered on structure.
What would confirm the upside?
A clean move back above 6,000 and a push through the February all-time high would help strengthen the case for continued upside. Not just because it’s a technical level, but because it’s psychological too. If we’re breaking out into new highs, especially after the chop and hesitation of the last few weeks, that’s when retail traders tend to feel like we’re “in the clear.” That can bring in more participation, more confidence, and more momentum. Ideally, we’d see a higher low hold on any dips, and then a strong push through 6,000 with follow-through, not just a quick tag and pullback. That kind of behavior would tell me buyers are stepping in with conviction again.
What would shift the bias more bearish?
A breakdown and hold below 5725 (not just a quick flush) would suggest deeper downside potential. From there, 5600 (around the daily 50SMA) becomes the next level I’d watch for support. But so far, I’m not leaning toward this as the main scenario.
What do you all see? Will we break 6,000 and get an increase in momentum?
SPX500 — Structural Weakness Emerging on the 15-Min ChartWe may be approaching a critical inflection point.
Price action is showing signs of exhaustion after multiple failed attempts to break higher. The market structure is compressing beneath resistance, setting the stage for a potential breakdown.
🧭 Key Level to Watch:
Support at 5,790.33 aligns with previous liquidity sweeps and demand zones. A move toward this level could reflect rotation from short-term bullish euphoria into a broader correction cycle.
⚠️ Institutional traders, are you watching the same tape?
This isn’t just about price—it’s about positioning.
Market signals:
Distribution pattern forming
Liquidity void below current level
Compression likely to result in expansion (downside bias)
In markets like these, timing is everything.
Capital flows speak louder than sentiment.
#SP500 #MarketStructure #InstitutionalTrading #TechnicalAnalysis #SmartMoney #LiquidityZones #MacroStrategy #WaverVanir #RiskManagement
S&P 500 is Under Pressure from Weak ADP Data, Strong ResistanceThe S&P 500 is showing signs of contraction just below the key 6000 level. The ADP employment report, which revealed the slowest pace of hiring since March 2023, has raised some concern among investors. Whether this weak labor data will significantly impact the broader stock market remains to be seen.
Tariff effects appear to be gradually surfacing, first in jobless claims, then in the ISM manufacturing data, and now in the ADP report. Inflation data will likely be affected last, probably in a few months, due to the fact that both households and businesses frontloaded purchases ahead of the tariffs. As a result, the market could first confront recession fears, followed later by concerns about stagflation.
From a technical standpoint, a short-term RSI divergence is emerging, and the 6000 level is acting as strong resistance. If the S&P 500 fails to break above this resistance, a selloff could be triggered, with the 200-hour moving average as the initial target. Should the index fall below the 200-hour level, bearish momentum could increase, potentially deepening the correction.
To invalidate this negative scenario, the index would need a clear breakout above 6000, confirmed by multiple daily closes above that level.
Updated Technical Analysis – SPX500 (15M)Published: June 3, 2025 @ 10:22 PST
🔍 Observations:
🔺 Price Context:
Currently trading at 5,982, right inside the premium + weak high zone
1.382 Fib extension = 5,979.73 has just been tagged
Next Fib levels:
1.618 = 6,000.33
2.0 = 6,034.13 (also long-term resistance target)
🧠 SMC & Liquidity:
BOS confirmed around 5,927
Multiple ChoCHs now invalidated = strength in the up move
Weak high at 5,980 likely acted as a liquidity magnet → now filled
📉 Risk Alert:
Low volume on the final leg up = signs of exhaustion
Price is now above key liquidity zones — perfect for a fake-out or reversal
🔁 Updated Probabilities (Intraday Outlook)
Direction Probability Reason
Bearish Reversal (today) 65% Liquidity sweep + premium zone rejection + volume divergence
Bullish Continuation (toward 6,034) 35% Momentum intact, if breakout holds and is supported by volume spike
🧠 Analyst Note:
"This was the right view, can’t believe I missed it."
— This quote fits perfectly here. The 5,902 zone (equilibrium) acted exactly as intended: a launchpad. Missing the move isn’t the problem — it’s not learning from it that is.
SPX500SPX500: Bullish Momentum Builds – 6500 in Sight?
📍 Current Price: 5977.00
📈 Bias: Strongly Bullish
🎯 Target: 6500+
📉 Invalidation Level: 5850 (Short-term support)
📊 Technical Outlook:
The SPX500 continues to show strong bullish momentum as it trades at all-time highs near 5977.00. With persistent buying pressure and supportive macro tailwinds, the index looks poised for further upside.
Key observations:
✅ Price Action: Clean breakout and consolidation above recent highs. No signs of exhaustion yet.
📈 Trend: Clearly up across all major timeframes (Daily, 4H, 1H).
🧠 Psychological Level: 6000 is within reach, and a break above could open the path toward 6500 as the next major round number and Fibonacci extension level.
💡 Market Sentiment: Risk-on tone prevails; tech and mega caps continue to lead.
🔍 Support & Resistance Levels:
Resistance: 6000 → 6150 → 6500
Support: 5900 → 5850 → 5735
⚠️ Risk Management:
While the setup remains bullish, traders should watch for:
Surprise macro headlines (Fed speeches, inflation data, geopolitical risks)
Pullbacks toward support for potential re-entries
📝 Conclusion:
SPX500 remains in a powerful uptrend. As long as price holds above key short-term support at 5850, bulls retain full control. A breakout above 6000 could trigger a fresh wave of institutional buying, driving price toward 6500 in the coming weeks.
📢 Let me know your thoughts — are we heading for 6500 next?
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SPX500 H1 | Potential bullish bounceSPX500 is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 5,907.26 which is a pullback support that aligns with the 38.2% Fibonacci retracement.
Stop loss is at 5,838.00 which is a level that lies underneath a multi-swing-low support and the 61.8% Fibonacci retracement.
Take profit is at 5,995.10 which is a swing-high resistance that aligns with the 61.8% Fibonacci retracement.
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