$SPX BULL TRAP IS STILL IN PLAY. 🐻⚠️
The $S&P 500(.SPX)$ bounce still has room to run.
Price hasn’t reached the bearish Daily FVG resistance yet, so I’m not looking to short too early. 👀
That resistance zone lines up with the 61.8% Fibonacci retracement — exactly the kind of area where I’d expect sellers to step back in. 📉
Until $SPX gets there, I’m giving this rally some room.
But once price reaches that zone?
That’s where I’ll be watching closely for rejection. 🎯
The bigger picture remains the same:
➡️ Let the bounce extend
➡️ Wait for the resistance zone
➡️ Look for the rally to get sold
➡️ Then target the higher-degree move LOWER 📉
Patience here.
The trap isn’t confirmed until the resistance does its job. 🐻
Markets are always moving - and sometimes, the best move is knowing what works for you.
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