$SPX Eyes Another Leg Higher Before FOMC

TRIGGER TRADES
10-28

The rally may have more room to run, but don't mistake a bounce for a confirmed uptrend. 👀

📉 What I'm Watching

  • Early weakness tomorrow could bring a dip before the FOMC decision.

  • The downtrend line drawn from the recent highs remains intact and has not yet been broken.

  • After a potential pullback, the FOMC could trigger another push higher toward last week's high and daily fair value gap (FVG) resistance at 7,754.

⚠️ The Bigger Picture

I'm still leaning toward another move higher in the short term, but this remains a corrective rally—not a confirmed trend reversal.

The key is how price reacts around resistance. A rally into 7,754 doesn't automatically mean the market has turned bullish.

🎯 My Plan: Watch for early weakness first, then see whether the FOMC provides the catalyst for another leg up. Stay cautious until the downtrend line is taken out.

📌 And if the market rolls over again? Don't be surprised. A corrective rally can fade just as quickly as it starts.


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