SPX | Key Reclaim, But Caution Ahead
$S&P 500(.SPX)$ dipped below key support at the channel floor and 50DMA, but reclaimed both into the close.
While that reclaim is short-term bullish and should drive a bounce toward 6749–6844 (Daily iFVG resistance), that move likely forms a bearish 2nd wave — a setup to sell into, targeting the major pivot/support at 6550.
Below 6550 → begins the Wave 4 pullback targeting 6150.
Daily close above 6788 → would reduce bearish confidence.
$SPDR S&P 500 ETF Trust(SPY)$ $E-mini S&P 500 - main 2512(ESmain)$ $NASDAQ 100(NDX)$ $E-mini Nasdaq 100 - main 2512(NQmain)$ $Invesco QQQ(QQQ)$ $Dow Jones(.DJI)$ $iShares Russell 2000 ETF(IWM)$
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