SPX Forecast: Key Levels to Watch as Earnings Season Kicks OffS&P 500SPCFD:SPXtimothysmith78The S&P 500 (SPX) has jumped 11% since the start of the year, boosted by ongoing enthusiasm for the AI trade and resilient consumer spending. As earnings season gets into full swing this week, with reports from major banks including Wells Fargo (WFC), Bank of America (BAC) and JPMorgan Chase (JPM), let's look at several technical levels worth watching. Firstly, a breakdown below a month-long symmetrical triangle opens the door to a retracement toward 7,235. This area may attract buying interest near a horizontal line that connects the low of the pattern with the opening price of a rare gravestone doji candlestick, which appeared on the chart in early May. A close below this level could see the index test lower support around the phycological 7K area. This location would likely see bulls defend a series of peaks that formed throughout January and February near the rising 200 MA. If the index breaks out above the symmetrical triangle, we can use a measured move to project a bullish target. In this case, we calculate the distance of the symmetrical triangle near its widest point and add that amount to the likely breakout area, which forecasts a target of 7,880. (320 + 7,560 = 7,880)