$SPX Is Near the Target. Any Bounce Could Be an Opportunity
$S&P 500(.SPX)$ is getting very close to the downside zone I’ve been watching.
🎯 7570–7550 remains the target.
Until price actually reaches that area, I’m still treating rallies as opportunities to sell rather than chasing a reversal.
After four straight down sessions, tomorrow’s CPI could make things interesting. 👀 A strong bounce on the data wouldn’t automatically change my bearish view. It could simply create one more bull trap before the next leg lower.
If we get that bounce, I’ll be watching the fresh bearish FVG for rejection, especially while $SPX stays below the 50% retracement of W3.
📉 Below that level, the bearish structure remains intact.
If buyers fail to produce a meaningful rebound, this consolidation could simply resolve lower and take us straight into 7570–7550.
The setup is getting close to the level I’ve been waiting for.
🐻 Targets still active
🎯 7570–7550
👀 CPI could create the trap
📉 Bearish below the W3 midpoint
The warning was there. Now I’m watching whether price finishes the move. 🔥
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