Hello, traders! ☀️

A quick SPX update today, as we’re simply confirming the precise execution of the scenario outlined in my previous post 🎯🎯🎯:

“A confirmed breakout and hold above 7,440 would bring the bullish scenario back into play, with upside targets at 7,555 and then the ATH at 7,625.”

Both targets have now been reached, and SPX has entered price discovery👾
At these levels, we no longer have horizontal resistance or moving averages to rely on.

🦬🚀That said, more than a month ago I pointed to the measured move target around 7,950, and for now that remains my primary objective. Price continues to move confidently in that direction.

🐻🪓As always, keep the bearish scenario in mind. The key support levels are now 7,625 (previous ATH), 7,555, and 7,440.

However, considering the way SPX broke above the ATH and the fact that price is consolidating instead of immediately retesting the breakout level, I continue to favor the bullish scenario. At this stage, I’m not expecting a correction below 7,625.

Peace! 🌄

⚠️ Disclaimer:
All information shared on this channel is for educational and informational purposes only and is not investment advice. The author is not responsible for your trading decisions. Always manage your risks and make decisions independently.