$SPX Pullback First, 10,000 Still in Sight
π» SHORT-TERM OUTLOOK: BEARISH
The $S&P 500(.SPX)$ rejected daily resistance, just as expected. The October low target has been hit. β
Now watch for one quick bounce into the 7,660β7,690 daily gap. That zone should attract sellers again.
π― Next downside target: 7,558 β the equality target.
β οΈ If SPX breaks above 7,690, expect a larger bounce before another leg lower toward the September low.
π FOMC Wednesday. Stay alert.
π THE ROAD TO 10,000
Short term: Pullback.
Big picture: Still targeting 10,000.
Two possible paths from here:
π’ Path 1: Shallow Dip
SPX pulls back to 7,400β7,300, finds support, then makes one final push higher.
π΄ Path 2: Deeper Correction
The rally from 2022 is complete, and SPX drops toward 7,000 before the next major move.
π― Different paths. Same destination: 10,000.
Manage risk. Respect the levels. Let price confirm the next move. ππ―
Markets are always moving - and sometimes, the best move is knowing what works for you.
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