SPX Rebound Targets 50% Retracement at 6720

TRIGGER TRADES
11-22

$S&P 500(.SPX)$ delivered the relief bounce right on cue. ✅

I’m looking for this to evolve into a clean ABC corrective push toward the 50% retracement at 6720 before the next leg lower.

The bullish SMT with $Dow Jones(.DJI)$ at the Oct 10 low, combined with the confirmed 5-wave decline, adds conviction to this near-term rebound setup.

Now that a new trend has begun (topped at 6925), the wave patterns are much cleaner 🌊

We nailed the BOTTOM earlier (+138)📈

Then we nailed the TOP of the rally (-63) 📉

Join the fun

SPX slipped under the 2022–2025 trendline support today.

If the bulls want to keep this from turning into a false breakout, they need a close back above 6,585 tomorrow.

An overshoot in one direction often leads to an overshoot the other way 👀

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