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MFby u/marcus_fx·6hAnalysis

$SPX500 - Watching 7390-7400 Overhead

Been keeping an eye on $SPX500 futures today, specifically the overhead around 7390-7400. We touched 7392.95 earlier, so it's clearly a level that buyers struggled to push through with any conviction. It's not a hard resistance line in my book, more a zone where momentum stalled out previously. If we see a solid close above 7400 on higher volume, it could indicate further upside toward 7450-7470.

Conversely, a failure to reclaim that 7390-7400 area, especially if coupled with a break below today's low of 7294.18, would make me reconsider any bullish bias for the short term. The risk for a continued push higher is obviously a rejection from this zone, potentially sending us back towards 7300 or lower. It's a key spot to watch for direction.

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