After a volatile FOMC week, SPX closed Friday at 7,650.50, leaving price sitting directly around a critical area on the daily chart.
For 0DTE and weekly traders, the Fibonacci structure gives us a clean roadmap into Monday.
The first level to watch is the channel heartline around 7,632, which lines up closely with the .50 retracement. Holding above this area keeps the door open for another push higher.
Above that, 7,661.70 — the .618 Fib — is the first major test. This is where I would expect potential stalling or rejection. A clean reclaim and hold above .618 changes the setup: instead of simply bouncing inside the channel, price begins looking toward the .786 at 7,703.40.
That 7,703 area is the key Monday upside target and sits near the upper portion of the current structure.
If .618 rejects and price loses the heartline, the focus shifts back toward 7,603 (.382) and potentially lower.
Monday roadmap:
7,632 = heartline / pivot
7,662 = .618 decision point
7,703 = .786 upside target
7,603 = .382 downside level
For 0DTE, the question isn’t simply up or down > it’s which Fibonacci level accepts or rejects price.