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SPX Near 6500 — Breakdown or Bounce? Here’s My Plan

Mar 23, 2026
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Hey Traders,

For the week ending March 20, 2026, the S&P 500 (SPX) dropped roughly 1.51% on Friday, closing at 6,506.48, marking its fourth consecutive weekly loss. The index is now down about 2% for the week and nearly 7% from its all-time high of 7,002.

This weakness was driven by a combination of factors: renewed geopolitical tensions involving Iran pushed oil prices higher, adding inflationary pressure; a hotter-than-expected PPI report midweek reversed early gains; and a more cautious tone from the Federal Reserve reduced expectations for near-term rate cuts. As a result, volatility picked up, the Nasdaq 100 slipped into a technical downtrend, and broader market participation continued to weaken.


⚠️ Why Next Week Is Critical

We are now sitting right at a key level around 6500 on SPX.

This is where things get interesting.

  • If the market holds this level, we could see a short-term bounce or stabilization
  • If we break below 6500, there is a strong probability of further downside expansion

This is not the environment to be aggressive — it’s the environment to be disciplined and prepared.


🎥 How to Make Money in a Bearish Market

In times like this, most traders struggle because they’re using bull market strategies in a bearish environment.

I just released a new video breaking down:

  • How to generate income in a down or sideways market
  • The ideal setup for this strategy
  • How to manage risk and exit the trade

👉 Check it out below:

HOW TO MAKE CONSISTENT INCOME IN A BEARISH MARKET

🚀 Want Structured Guidance During Volatility?

If you want help navigating markets like this with a clear plan, that’s exactly why I built The Launchpad.

Inside The Launchpad, you get:

  • Real time market outlook
  • High-probability options strategies
  • Trade alerts and breakdowns
  • Risk management frameworks
  • A focused trading community

The goal is simple: help you stay consistent and profitable — regardless of market direction.

If you’re tired of guessing and want a structured approach, The Launchpad is built for you.

Stay sharp this week — this is where discipline matters most.

Talk soon,

Gautam


⚠️ Disclaimer: Options involve risk and are not suitable for all investors. Returns are not guaranteed. This message is for educational purposes only and not financial advice.

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