$SPX FOMC Bounce Fails as Sellers Take Back Control
The post FOMC pop didn’t have much follow through.
$S&P 500(.SPX)$ managed only a shallow rebound before sellers stepped back in and pushed price sharply lower. That keeps the short term structure leaning toward another leg down rather than a clean bullish reversal.
For now, I’m treating the current rebound as W4. If that count holds, the bounce should remain below today’s high before W5 brings another move lower. 🔻
The key levels are pretty clear:
⚠️ Above 7632: the immediate W4/W5 setup is invalidated.
🚦 Daily close above 7637: that would shift the setup into a more bullish posture.
Until either level is reclaimed, I’m treating rallies as opportunities to sell rather than chasing strength.
The next move matters more than the noise around the FOMC bounce. 👀
Watch the levels. Let price confirm the structure.
Markets are always moving - and sometimes, the best move is knowing what works for you.
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