$SPX has already broken out of the descending channel on the hourly timeframe, which is a strong bullish signal.



The breakout suggests that bearish momentum is weakening, and the market may be preparing for a trend reversal. A successful retest of the breakout zone would strengthen the bullish case and could trigger a significant upward move.

The structure is looking constructive, but confirmation remains key. If buyers hold the retest area, SPX could be setting up for its next leg higher.

Currently tracking this setup closely.
SPX3.93%
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GateUser-d6fb8ff1
· 1h ago
A bullish breakout looks very tempting, but don’t rush into FOMO—wait for a pullback that doesn’t break the previous low before you take action, for a safer approach.
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SeaSaltMintCandy
· 1h ago
The breakout above the descending channel on the hourly chart is definitely impressive, but whether the retest can hold will depend on the liquidity when the US stock market opens tonight. Just keep an eye on this for now.
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Don'tBeACoachForBagholders
· 2h ago
The structure is indeed turning bullish, but such a level of reversal requires trading volume to confirm. Wait for confirmation with increased volume before considering adding to your position.
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