SPX: channel lost, pullback call at 7,240S&P 500 IndexTVC:SPXCapital-InsightsThe S&P 500 closed at 7,569 on November 3, up 0.4% after three red days but still 3.4% below its 7,839 high. The Fed held rates at 3.75-4% on October 28, with two votes for another hike, after September CPI rose to 4.0% and September payrolls added only 29,000 jobs. The VIX sits near 21 and the Fear and Greed index is in extreme fear near 20. Technical view: bearish short term, a pullback is due. Price closed below the rising channel that has held since May, after stalling twice near 7,839 in August and October. A 10-year yield near 4.9% and the dollar index near 101.9 argue for patience. My plan is to wait for both confirmations: price in the 7,240 to 7,300 zone, which matches the 0.382 retracement of the April to October rally, and a new 4H higher high inside that zone. Key risk: the October jobs report on Friday, November 6 at 8:30 AM ET, then October CPI on Tuesday, November 10 at 8:30 AM ET. A strong jobs number with soft inflation could push price back into the channel. This view is invalid if the jobs data turns strong again. Only spot buy with proper risk management. Not financial advice.