Technical analysis by TRADE_WITH_BRIAN about Symbol SPYX: Sell recommendation (5 hour ago)

Technical Analysis Of US 500 The S&P 500 Index (SPX) is currently presenting a high-probability bearish setup following a clean Break of Structure (BOS) on the 1H timeframe. After establishing a series of Higher Highs (HH) and Higher Lows (HL), price action shifted momentum by printing a Lower Low (LL) — signal a potential trend reversal from bullish to bearish structure. Currently, SPX is retracing back into a Premium Price Zone — an area of previous support turned resistance, marked as the Entry Zone on the chart. This zone aligns perfectly with key structural confluences and offers traders an ideal area to look for short entries upon confirmation. Technical Breakdown: 📊 Market Structure: Previous bullish leg invalidated by a new Lower Low (LL) formation. A clear Break of Structure (BOS) confirms bearish intent. Price is retesting the distribution zone between 6720 – 6750. 📉 Bearish Confluences: Structure shift from bullish → bearish. Retest of broken support now acting as resistance. Price approaching the premium zone (above equilibrium). Weak bullish momentum on the retracement leg. Trading Plan: 🟡 Entry Zone: 6720 – 6750 ❌ Stop Loss: Above 6770 (structure protection) ✅ Take Profit: Around 6540 (key liquidity & support zone) ⚖️ Risk–Reward: Approx. 1:3 setup 🧠 Bias: Bearish continuation unless price breaks and holds above 6770 Market Context: SPX has faced significant rejection from the upper resistance area, suggesting that sellers are stepping back in to drive the next impulsive leg down. As long as price remains below the 6770 zone, the bearish narrative remains valid. A clean rejection or bearish engulfing pattern within the entry zone would strengthen the short bias — targeting the next support area near 6540, where buyers could re-enter.