Technical analysis by ProfitMagnet-Pro about Symbol SPYX: Buy recommendation (10/2/2025)

Hello everyone, The S&P 500 Index (SPX) continues to trade within a strong ascending channel structure on the 1H timeframe. After several BOS (Break of Structure) and ChoCH (Change of Character) signals, the price action confirms that buyers are still in control of the overall trend. Currently, the index is holding above the 6,697 support zone, with a bullish push towards the upper channel resistance. If momentum sustains, the next upside target sits around 6,800 – 6,805, which aligns with the channel’s top boundary. Two possible scenarios are developing: Bullish Continuation: If price remains above 6,697 support, we may see further upside moves toward 6,800+ levels, continuing the broader bullish channel. Retest & Bounce: If price corrects lower, a healthy retest into the 6,639 – 6,569 support area could provide fresh buying opportunities, as long as the structure respects the channel trendline. Resistance: 6,800 – 6,805 Support: 6,697 / 6,639 / 6,569 Channel Trendline: Acting as dynamic support Overall, the S&P 500 remains bullish in structure. Short-term pullbacks are expected but may serve as opportunities for buyers to rejoin the trend. Keep an eye on how price reacts at these critical support and resistance levels.