Wednesday, October 8th, 2025

Current ACAP Momentum/Trend Model Signal: POSITIVE (Day Count = 20)
The SPX index lost 38bps during yesterday session, closing at 6714 after hitting a new all-time of 6754. Momentum and trend indicators remain steady. My Spot VIX signal remains “neutral”. My VIX Term Structure signal remains “risk on”. The ACAP Momentum/Trend Model signal remains Positive. As I have continued to write, “Risk remains skewed to the upside.” I fully expect the current move to test the next highlighted resistance level at 6802 in the near term.
Trade Support:
6600: Previous Resistance
6400: Previous All-Time High (July 28)
6200: July 7 Low
6147: Previous All-Time High (Feb 19)
Trade Resistance:
6802: Fibonacci Projection (123.6%)
7035: Fibonacci Projection (138.2%)