The $S&P 500(.SPX)$ tagged fair value gap (FVG) resistance and broke above the trendline drawn from recent highs, only to sell off sharply after hours.
The current bias favors another move lower, with a daily close below 7,702 serving as the key trigger.
Meanwhile, the $Alphabet(GOOGL)$ short setup shared on October 16 has delivered a +11.64% gain, with targets reached after earnings. ๐
๐ป $SPX โ Key Levels to Watch
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๐ Resistance: The daily FVG is expected to cap the next bounce.
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๐ Bearish lean: A potential next wave down.
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๐ฏ Trigger: Daily close below 7,702.
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โ ๏ธ Context: ES has already swept last weekโs high, so SPX may not need to revisit that level.
๐ฐ $GOOGL โ Short Trade Update: +11.64%
The October 16 setup outlined:
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โ B-wave triangle completed
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โ ABC move higher confirmed
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โ Bearish Daily CISD entry signal
The downside targets were subsequently hit after earnings.
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