SpaceX Rally Continues as SPX Gap Fill Is Underway

As posted yesterday, a gap fill for the $S&P 500(.SPX)$ was highly probable given the overextended condition of the price action, making key price levels essential to watch for an early reversal. The Central Daily Level (CDL) shared for today was 7,549.0, and I noted that upward momentum would be endangered if that level was breached.

A breakdown below that CDL exposed our downside target of 7,521.0, which was hit by 3:45 PM 🎯 and subsequently breached, suggesting bearish continuation for tomorrow.

Because the initial rally was so rapid (and we have studied how suspicious a sharp, early-week jump can be) I also provided key daily levels for the Magnificent Seven to help you manage risk. $Meta Platforms, Inc.(META)$ successfully defended its essential 591.3 level and touched the daily bullish target of 603.0 anticipated yesterday for subscribers 🎯. $Alphabet(GOOG)$ also recovered 367.0, and the exact high of the day peaked at 373.5 🎯, matching the top target printed in yesterday’s report.

This execution approach was presented for all of the Magnificent Seven. Yesterday I highlighted indecisive price action for $Tesla Motors(TSLA)$ , providing the CDL of 411.0. The bullish above/bearish below level was breached, triggering 406 and 402 as the extended bearish target, the daily low was 400 🎯.

For $SpaceX(SPCX)$ (SpaceX), I highlighted daily bullish targets at 200.9, 209.3, and 225. The top of the day capped out at exactly 225 🎯, meaning bulls should proceed with caution heading into tomorrow.

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