SPX 1H – Rejection at Parabolic Midline | 11/13 Update

SPX rejected cleanly from the 10/28–10/29 supply zone and the parabolic midline (blue). The lower parabolic channel on 11/10 (check the chart) - this level that flipped from support to resistance after Nov 10.

Currently, price is testing the 10/24 High R zone (~6774) with strong downside momentum shown on Heikin Ashi

Key Levels:

• Resistance: 6830–6870 (midline + prior rejection block)
  
• Suport 1: 6780 (10/24 High R)
  
• Support 2: 6720–6650 (10/2–10/9 & 9/16–11/7 demand zones)
  

Scenarios:

• Bounce: If 6780 holds, expect a short-term relief rally toward 6830–6850 (mean reversion).
  
• Breakdown: A 1H close below 6775 opens room for 6720 and possibly 6650.
  

Overall momentum remains bearish after rejection from the parabolic curve. Bulls must reclaim 6830+ to shift structure.