SPX Trade Plan — January 23, 2026

We have been building this thesis step-by-step all week. On Wednesday, the focus was reclaiming 6855 for signs of health. Yesterday, we looked for a constructive close above 6900.

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We are in much better shape after yesterday’s close above 6900. SPX has officially reclaimed the Daily 8 and 21 EMAs, repairing the immediate technical damage.

The “Sort Of” (Warning Signs):

So are we back? Sort of. While we have recovered key levels, we are not completely out of the woods.

We are mostly back, but markets don’t move in straight lines. We need to be patient and laser focused about a potential flag failure.

There are two distinct paths today. We are sandwiched between a gap fill below and a resistance test above.

Execution Levels

Long Plan

• Reclaim: A clear reclaim of 6915 sets up 6920, 6925, and 6932.
• Continuation: Pushing through 6932 targets the 6945 zone, with interim friction at 6937 and 6942.
• Stretch: Breaking 6954 sets up a wobbly path toward the 7000 psychological level. First target is 6976, with 6965 and 6971 as interim levels. Above 6976 opens the door to 6985 and 7000.

Short Plan

• Short Pops: The 6915–6920 zone will likely face heavy resistance. Look for a rejection here to short back down to 6900 and 6875.
• Breakdown: A drop below 6894 sets up a path to 6875 (Gap Fill), with interim support at 6888, 6884, and 6881.
• The Flush: Losing 6875 opens the door to 6865 and the major 6850 Put Wall.
• Liquidation: Below 6850 sets up a path to 6800, with key support at 6826 and 6810.

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