SPX at a Critical Decision Point: Breakout or Breakdown?

The S&P 500 has been respecting this rising channel (green support and red resistance) for an extended period. Currently, price action is testing the mid-range, making this a key level for future movement.

Possible Scenarios:

1️⃣ Bullish Continuation → If SPX holds above the green trendline, we could see a breakout towards the upper resistance (red trendline), targeting 7,000+.
2️⃣ Bearish Breakdown → A loss of the trendline support could trigger a correction, potentially sending price towards 5,500 or lower.

🔍 Watch for:
✔️ Confirmation of support holding (bullish signals).
✔️ Breakdown and retest of the green trendline as resistance (bearish signals).

⚡ Trade Idea:
• Long on bullish confirmation above trendline.
• Short on breakdown + retest of support as resistance.