SP500 – Daily Analysis
There’s a highly consequential closure coming tomorrow for the S&P 500 (ES futures)—one that could reveal the short- and mid-term roadmap with surprising clarity. Recent candles have been building toward this moment, and tomorrow’s formation might carry the final clues we’ve been waiting for. The technical setup is tightening, and the market is approaching a decision point. Let’s explore what the charts might be trying to tell us before the next big move unfolds.
CANDLES
The daily and 2D candles suggest that the bulls are still in control—every bearish attempt so far has been stick-saved. All eyes now turn to the 3D closure tomorrow, which could be extremely telling (see chart 3). A close above the green line would confirm a bullish stance; a close below the red would flip the outlook bearish. If the candle lands between, brace for potential whipsaw action until the range resolves.
The 15D frame also closes tomorrow and needs roughly a 2.5% drop to turn bearish. Barring that, it’s likely to finish as a bullish continuation. If the index holds near current levels, the 15D could print a Three White Soldiers pattern—another strong mid-term bullish signal.
Elliott Waves
The most important message from the Elliott Waves today that the last attempt to form an impulse down was a failure. The wave down morphed into a corrective structure and I would be looking for either an impulse up (green) or one more extension of an extremely complex Triple Three sideways consolidation (red).
SUMMARY
The S&P 500 remains neutral in the short term and bullish on the mid- and long-term frames. A strong bullish closure tomorrow could flip the short-term outlook and break the two-week sideways correction. The broader trends are firmly bullish, and it would take significantly stronger signals to challenge the ongoing uptrend.
As of the July 12 close, the Swing Room was LONG on SPY.
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Happy Trading!
