One key technical point:

The SPX daily timeframe is currently in a deeply overbought condition, and selling pressure on the 60-minute chart is increasing.

While algos are still in buy mode, based on this data, I don’t expect a significant upside move in the short term — so we should remain cautious with long positions.

Once the 60-minute chart reaches the overbought zone, we’re likely to see a price reversal, with a minimum correction of 0.382 of the previous wave.

That puts the 6700–6720 zone in focus as a key support area.