$SPX Daily Key Levels | 8/5

SPX had a daily inside bar yesterday, so we could see a huge breakout either way today.

First, I would set alerts at the high and low of yesterdays daily candle as a first trigger. I think which ever way it breaks, we could see a big move.

That being said there was a lot of consolidation yesterday and it is tightening. The levels are a lot closer than what we usually expect on a chart like SPX.

Bear zone (reversal zone): 4144-4141

Target 1: 4137

Target 2: 4129

Target 3: 4125

Bull zone (reversal zone): 4159-4162

Target 1: 4166

Target 2: 4174

Target 3: 4177

I have alerts set for 4136 at yesterdays low, and 4161 from yesterdays high. Be careful on lotto Friday's.

On the hourly chart, you can see this is and has been a major area of consolidation, so again, be patient, wait for your levels and triggers.

This is my daily key levels chart:

Golden Goose Fib Chart: