SPX printed a new ATH near the 7XXX zone, helped by war headlines and the China meeting, but the real question now is simple.
Did price truly secure the breakout, or are we close to a local top before a deeper flip?
I focus more on price action than fundamentals, and when I compare this structure with similar historical setups, SPX looks very close to a major resistance window around 7450 to 7750.
In my view, that zone could mark the final stretch before a sharp retrace starts.
So yes, SPX may still have some room higher, but chasing fresh highs here needs caution and discipline.
If the market reaches 7450 to 7750, I will be watching the reaction closely for a possible reversal that could lead to a 15% to 21% drop.
For now, bulls still have momentum, but anyone looking to short should keep eyes on PA inside 7450 to 7750.
That zone may become the key decision area for the next major move.
ā Captain Renzo
When price reaches the edge of the map, wise traders stop cheering and start watching.
š¤² May Allah guide us to discipline and clear timing.