STRICT DAY TRADE IDEA (Applies only for hourly chart for short term day trades within 1 to 2 days)
SPX is sitting inside a rising 1H channel that continues to behave more like a bear flag than a bullish breakout setup. Price tapped only the bottom edge of the 10/29 ATH supply zone—not the core of the zone—showing early seller absorption.
We also tagged the mid-channel, which normally signals momentum weakening rather than expansion.
Check Bear-flag thesis from Nov 17 and Nov 21 and Dec 2
As long as SPX remains inside this structure, the bias stays bearish for day trading.
Break of 6,840 opens the door to a channel breakdown, with intraday targets at 6,810 → 6,780 → 6,740.
Upside invalidation is clean: bulls must break above 6,885–6,900 with strength and reclaim the ATH zone from inside, not just touch it.
Until that happens, rallies into channel mid or top = short opportunities.
Bearish Bias | Watch 6,840 | Bear Flag Until Proven Otherwise
#SPX #S&P500SPX SPX SPX #SP500 #BearFlag
SPX is sitting inside a rising 1H channel that continues to behave more like a bear flag than a bullish breakout setup. Price tapped only the bottom edge of the 10/29 ATH supply zone—not the core of the zone—showing early seller absorption.We also tagged the mid-channel, which normally signals momentum weakening rather than expansion.
Check Bear-flag thesis from Nov 17 and Nov 21 and Dec 2
As long as SPX remains inside this structure, the bias stays bearish for day trading.
Break of 6,840 opens the door to a channel breakdown, with intraday targets at 6,810 → 6,780 → 6,740.
Upside invalidation is clean: bulls must break above 6,885–6,900 with strength and reclaim the ATH zone from inside, not just touch it.
Until that happens, rallies into channel mid or top = short opportunities.
Bearish Bias | Watch 6,840 | Bear Flag Until Proven Otherwise
#SPX #S&P500
SPX SPX SPX #SP500 #BearFlag
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.