The structure of the S&P is looking quite good, the key is whether the bulls can hold the pullback level. If they do, it will be the starting point of a new rally. Keep an eye on it.

$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.