SpaceX Rally Continues as SPX Gap Fill Is Underway
Daily Levels for SPX, SPCX and Magnificent Seven - Market Update
As posted yesterday, a gap fill for the 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 successfully defended its essential 591.3 level and touched the daily bullish target of 603.0 anticipated yesterday for subscribers 🎯. 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 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 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.
These precise levels are modeled entirely based on the structural zones where institutional algorithms react. Subscribe and plan ahead measuring potential targets and risk management, the assessment below includes preliminary conditions for tomorrow.
Below, find the essential levels for the SPX, SPCX, and the Magnificent Seven, with their respective targets framed within the higher-timeframe weekly and monthly context.
Let’s begin.
SPX and Magnificent Seven - Key Levels
Yesterday, I differentiated between the conditions that make a gap fill extremely likely and those that allow gaps to remain open. The context varies per security as follows, so be careful when making general assumptions: