$SPX Tests 6780 Sweep, Bears Target 6700 While Bulls Fight to Survive

TRIGGER TRADES
02-20

$S&P 500(.SPX)$ swept 6780 — but the job isn't done.

The structure says this rally is corrective:

– $E-mini S&P 500 - main 2603(ESmain)$ holds 5-waves down from the high

– ABC formation on today's rally

Daily FVG resistance sits at 6882–6912. That's the ceiling.

Holding below the 6885 pivot keeps the bear case strongly favored — target 6720–6700.

A Daily close above the FVG (6912) neutralizes the short-term bias.

Until then, lean short.

The alternate "bull" case is still technically alive — barely.

Price needs to hold 6762 and close above 6912.

If it does, targets are 7020–7080.

But a new high above that zone? That's likely the final top — expect a HARD reversal.

Low odds until proven otherwise.

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