SPX Still Leaning Bearish But Let's Take A Look From M-1hS&P 500SP:SPXemanuelaeliasFor the first 10m I am giving the zoomed out view of what we may be doing. 10m in I will give more info for intraday and daily plays. Right now, I do see the higher lows forming on the D, but I also see sellers defending the 6,900 area. The challenge here is we have not picked a direction, so there are no sustained movements in one or the other direction. If you were long from the bottom in November, you had a great move up that likely ended with the ATH last week (if you held through the Dec pullback). I can't help to think we are going to roll over. I see the premarket pushing up but I need to see us break 6900 and hold. For intraday to shorter plays I'd say, don't buy long at 6900, wait for break and then a retest, or break and clear signals that we are holding that 6900 now. If you have a short bias, wait for pop of the morning, then signs of rolling over. 6800 will be the first resistance area that it has to break through to be more significant. If it can break that area and hold, I do see us rolling toward the bottom of my box.