SP500 – Daily Analysis
In this update, we take a close look at the waves unfolding at the micro level—where subtle shifts often foreshadow the next big move. Using our blend of candlestick patterns, multi-frame technical signals, and Elliott Wave structures, we’ll map out possible trajectories and pinpoint key inflection zones that could shape what happens next.
CANDLES
Today, SPX failed to build on bearish momentum and formed a rather neutral candle. The trend and overall odds remain bullish.
Elliott Waves
The futures have possibly completed a bearish flag, although I can’t rule out the potential for one more lower low to extend the flag before any rally resumes. If a new low forms, the targets will be adjusted accordingly.
SUMMARY
The S&P 500 formed a neutral candle, but the underlying technicals and trends stayed firmly bullish. The index remains moderately bullish in the short term.
As of the July 3 close, the Swing Room was long on SPY.
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Happy Trading!
