🧭 1. Overview

• Chart timeframe: 1-hour
• Current price: 667.8
• The system has recently triggered a Short signal, consistent with past local tops.

📈 2. Structural & Price Zone Analysis

🔹 Key Structural Lines

• Upper Channel Resistance: ≈ 675–678
• Mid-Channel Support: ≈ 657–660
• Lower Support Zone : ≈ 648–652

SPY just turned down from near the upper boundary (675+), failing to hold above that zone.

This reflects loss of upward momentum and suggests a likely retracement toward 660–652.

🔮 3. Forecast for the Next Several Days

Primary Scenario (Probability ~70%) → Controlled Pullback

SPY is expected to drift lower over the next 3–5 trading days, in a stair-step pattern:

Target Zone Technical Basis Comment

661–663 Short-term reaction zone Could see temporary bounce here

655–657 Mid-channel support First major profit zone

648–652 EMA200 confluence Likely final support if selling persists Momentum and structure both favor this controlled decline before another long setup potentially emerges.

Alternative Scenario (20%) → Range Consolidation

If SPY holds above 660 and oscillates between 660–675, expect sideways drift:

• Best suited for neutral options strategies (short straddles, iron condors).

Low Probability Scenario (10%) → Breakout Continuation

Only a clean hourly close above 678–680 with renewed MACD/RSI expansion would invalidate the current short thesis.

That would open targets toward 687–690, but there’s no technical evidence yet for this move.

🧩 4. Systematic Trade Plan

Short-Term Tactical Bias: Bearish

Current Price 667.8

Signal Type Short (Active)

Stop-Loss Above 678 (recent high)

TP1 661

TP2 655

TP3 (Extended) 650

🧮 5. Quantitative Outlook Summary

Timeframe Bias Confidence Target Zone Signal Status

Next 2–5 days Bearish 70% 655–661 Active short

Next 1–2 weeks Neutral → Bullish 60% 650 rebound area Await next long

Risk Level Moderate – Stop above 678 –

📊 6. Conclusion

SPY at 667.8 appears to be in the early stage of a short-term correction within a broader uptrend.