$SPX looks primed for a breakout toward fresh highs this December. The 1.618 Fibonacci extension measured from the April crash bottom to the R2 pivot levels out around 6958-6972—that's where the real action could unfold.

Here's the key: if we see a weekly close above 6972, all bets are off. January momentum would hinge on holding that level, and a decisive break could propel us toward the 2.0 extension target sitting near 7460 for 2026.

The setup is there. It's just a matter of whether buyers have the conviction to push through the resistance zone and close the week above that pivot.