$S&P 500(.SPX)$ rallied straight into Daily FVG resistance (6594–6622) + the 200-DMA and rejected BOTH.
Looks like a dead cat.
Lean: W4 completed at today's 6651 high.
W5 down next -> targeting 6465–6420.
Invalidation: close above 6622 and/or cross of today's high.
Bears still in control.
ALT scenario worth respecting —
Above today's 6651 high invalidates the immediate W5 decline.
Invalidation sits just above current price — tight margins.
That opens the door to a larger 2nd/B-Wave rally targeting the next Daily FVG at 6636–6710.
Two scenarios, but levels are defined.
Chat had a day today.
Caught the afternoon fade.
Called the bearish ABC at the top.
Flagged the H1 FVG target before the drop.
Members were ready.
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