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US Indices

SP500 – Daily Analysis

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Daily Nasdaq Open Articles SP500
1210

In this update, we examine the micro-level waves—where small changes can hint at the next major move. By combining candlestick analysis, signals across multiple timeframes, and Elliott Wave patterns, we’ll outline potential paths and highlight critical turning points that could influence what comes next.

CANDLES

Today, SPX confirmed a bullish reversal on the daily and formed continuation candles on the 2D and 8D frames. The trend and overall odds remain bullish.

Elliott Waves

The futures may have completed a bearish flag and are now progressing toward their targets. A potential larger bearish flag (dashed red line, low probability ATM) is still in play. The first indication would be a break below the July 8 low.

SUMMARY

The S&P 500 and other indices closed today with solid bullish candles, signaling a continued rally. The index remains bullish in the short term.

As of the July 7 close, the Swing Room was long on SPY.

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Happy Trading!

Daily Nasdaq Open Articles SP500
1210
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