$SPX Bounce Faces W2 Resistance

👋 Good morning, tigers!

The $S&P 500(.SPX)$ bounce is here, but I’m still not seeing the bullish SMT needed to support a sustained reversal.

For now, I’m treating last week’s ABC decline as a bearish Wave 1 (W1). That makes the current rebound potentially a Wave 2 correction, rather than the start of a new uptrend.

🎯 Key level: 7,714–7,776

This Daily FVG is the zone I’m watching closely for W2 resistance. If $SPX pushes into this range and gets rejected, the next move I’m looking for is W3 lower.

⚠️ The bigger confirmation level is 7,566.

A decisive break below 7,566 would strengthen the larger bearish thesis and suggest that a 10–15% correction is underway.

The setup is simple:
Bounce → test 7,714–7,776 → rejection → W3 lower.

Until bullish SMT appears and price can reclaim the key structure, I’m treating this bounce as corrective, not a confirmed reversal.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

718

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":600045466304640,"tweetId":"600045466304640","gmtCreate":1787526173966,"gmtModify":1787526608273,"author":{"id":4160789479824912,"idStr":"4160789479824912","authorId":4160789479824912,"authorIdStr":"4160789479824912","name":"TRIGGER TRADES","avatar":"https://community-static.tradeup.com/news/2249ecc555aef3f3da258e02a1f32c0d","vip":8,"userType":8,"introduction":"Leader In Elliott Wave | Futures Trader","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":1402,"starInvestorFlag":false},"themes":[],"images":[{"img":"https://community-static.tradeup.com/news/c26586ee9473ede48dc24a700887830a","width":"3620","height":"1768"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/c26586ee9473ede48dc24a700887830a","width":"3620","height":"1768"}],"title":"$SPX Bounce Faces W2 Resistance","html":"<html><head></head><body>👋 Good morning, tigers!\nThe <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> bounce is here, but I’m still not seeing the bullish SMT needed to support a sustained reversal.\nFor now, I’m treating last week’s ABC decline as a bearish Wave 1 (W1). That makes the current rebound potentially a Wave 2 correction, rather than the start of a new uptrend.\n🎯 Key level: 7,714–7,776\nThis Daily FVG is the zone I’m watching closely for W2 resistance. If $SPX pushes into this range and gets rejected, the next move I’m looking for is W3 lower.\n⚠️ The bigger confirmation level is 7,566.\nA decisive break below 7,566 would strengthen the larger bearish thesis and suggest that a 10–15% correction is underway.\nThe setup is simple: \n Bounce → test 7,714–7,776 → rejection → W3 lower.\nUntil bullish SMT appears and price can reclaim the key structure, I’m treating this bounce as corrective, not a confirmed reversal.\n<img alt=\" \" title=\" \" src=\"https://community-static.tradeup.com/news/c26586ee9473ede48dc24a700887830a\" tg-width=\"3620\" tg-height=\"1768\"> </body></html>","htmlText":"<html><head></head><body>👋 Good morning, tigers!\nThe <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> bounce is here, but I’m still not seeing the bullish SMT needed to support a sustained reversal.\nFor now, I’m treating last week’s ABC decline as a bearish Wave 1 (W1). That makes the current rebound potentially a Wave 2 correction, rather than the start of a new uptrend.\n🎯 Key level: 7,714–7,776\nThis Daily FVG is the zone I’m watching closely for W2 resistance. If $SPX pushes into this range and gets rejected, the next move I’m looking for is W3 lower.\n⚠️ The bigger confirmation level is 7,566.\nA decisive break below 7,566 would strengthen the larger bearish thesis and suggest that a 10–15% correction is underway.\nThe setup is simple: \n Bounce → test 7,714–7,776 → rejection → W3 lower.\nUntil bullish SMT appears and price can reclaim the key structure, I’m treating this bounce as corrective, not a confirmed reversal.\n<img alt=\" \" title=\" \" src=\"https://community-static.tradeup.com/news/c26586ee9473ede48dc24a700887830a\" tg-width=\"3620\" tg-height=\"1768\"> </body></html>","text":"👋 Good morning, tigers! The $S&P 500(.SPX)$ bounce is here, but I’m still not seeing the bullish SMT needed to support a sustained reversal. For now, I’m treating last week’s ABC decline as a bearish Wave 1 (W1). That makes the current rebound potentially a Wave 2 correction, rather than the start of a new uptrend. 🎯 Key level: 7,714–7,776 This Daily FVG is the zone I’m watching closely for W2 resistance. If $SPX pushes into this range and gets rejected, the next move I’m looking for is W3 lower. ⚠️ The bigger confirmation level is 7,566. A decisive break below 7,566 would strengthen the larger bearish thesis and suggest that a 10–15% correction is underway. The setup is simple: Bounce → test 7,714–7,776 → rejection → W3 lower. Until bullish SMT appears and price can reclaim the key structure, I’m treating this bounce as corrective, not a confirmed reversal.","highlighted":1,"essential":1,"paper":2,"likeSize":718,"commentSize":0,"repostSize":19,"favoriteSize":0,"link":"https://ttm.financial/post/600045466304640","repostId":0,"isVote":1,"tweetType":1,"viewCount":876,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[".SPX"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":true,"length":723,"optionInvolvedFlag":false,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/600045466304640"}