S&P 500 looking Overbought S&P 500 Index CashFX:SPX500CarolAVGJRS&P 500 Beginning to Look Overbought… The S&P is currently sitting in extreme overbought territory (95–96%), while the MACD continues to trend higher. This combination typically signals a short-term pullback within a broader bullish structure.#Traders 📊 Key Takeaways & Strategy • We remain in a buy-the-dips environment following the break of the rounding top formation • However, multi-timeframe overbought conditions (Weekly & Monthly) suggest a classic exhaustion phase is approaching #marketpsychology 📍 Support Zones to Watch 7026 – 6996 → Primary dip-buying region 6955 → Deeper support if momentum fades 6782 / 6741 → Cluster of moving averages 6707 → Critical 200-day moving average 📍 Resistance & Upside Levels Daily Pivot: 7131 (current trading level) R1: 7177 R2: 7206 R3: 7232 Trend Channel Top: 7280 Fib Extension (23.6%): 7352 #Fibonacci 📈 Outlook As we push into uncharted territory, Pivot Points and Fibonacci extensions become key for identifying resistance. A controlled pullback over the coming sessions would be constructive before any sustained move higher. #retailtrading Holding above the Daily Pivot (7131) keeps the bullish structure intact. A failure below opens the door for a deeper retracement toward key support levels. 👀 All eyes now shift to the US session, where volatility is likely to pick up and define the next move.#proptrading This remains a tactical market — disciplined positioning is key. ⚠️ This is not investment advice. My Money. My Risk. #tradingstrategy #S&P500 #MarketOutlook #IndexTrading