SP500 – Daily Analysis
The S&P 500 rallied—but is it the start of something bigger, or just a limited bounce within a broader downtrend?
In this report, we’ll break down the latest developments from multiple technical angles—including candlestick patterns, momentum indicators, and Elliott Wave structures—to assess whether this move has real strength or is simply another pause before the next leg lower. Let’s take a closer look at what the charts are signaling.
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CANDLES
The S&P 500 closed the day with a bullish candle and, like other indices, is signaling a continued bounce. However, the 5-day and 15-day frames closed with bearish continuation candles. While the short-term outlook is bullish and the index may move higher, it will likely be capped by one of the strong resistance lines discussed earlier. The mid- and long-term outlooks remain increasingly bearish.
S&P 500
Mid Term
There are currently three most probable paths on the table, with the red count as the primary scenario. The red zigzag could represent wave A of a much larger corrective structure outlined in purple. The blue path remains a possibility but is nearing invalidation.
SUMMARY
SPX and all major indices remain bearish on the weekly, 10-day, and larger time frames. While the smaller frames are currently bullish, this strength is likely to be limited. From an Elliott Wave perspective, the recent bounce appears corrective—possibly a zigzag for wave (A) in red or wave A in purple.
The index may be entering a mid-term rangebound consolidation phase, which could extend over several weeks or even months (purple path).
Happy Trading!
Other reports:
Dollar Index:
https://investingangles.com/category/currencies/usd/
Russell 2000:
https://investingangles.com/category/us-indices/russell2000/
S&P 500:
https://investingangles.com/category/us-indices/sp-500/
Treasuries (US10Y, TLT, IEF):
https://investingangles.com/category/treasuries/us10y/
