SP500 – Daily Analysis
In our daily SP500 analysis, we review candlestick formations across multiple time frames, align them with Elliott Wave structures, and track key technical indicators. This methodology allows us to maintain consistency and clarity while evaluating the market’s path.
CANDLES
SPX candles closed bullish today on the daily, 3D, and 15D frames. While the rally is likely to continue, a few signals suggest proximity to at least a short-term top. The 3D and 15D candles closed above the BB, and the 15D frame printed its seventh green candle in a row. The Dow again failed to close at a new ATH, possibly signaling a pullback. These are early signals and need confirmation. At this point, risks are slightly higher than normal. Be prepared.
Short term: SPX—bullish, with risk of a short-term pullback.
Mid & long term: bullish.
Elliott Waves
Mid Term
Mid-term outlook unchanged: the purple count remains primary. From a Fibonacci-ratio perspective, it would be ideal for wave 5 to complete here. However, some technicals suggest the current wave is a wave 3 of some degree.
Short Term
No change here. The green remains primary, and the index is likely riding wave (5) of iii.
SUMMARY
Short-term, SPX is closer to neutral, with potential for a pullback. Mid- and long-term odds remain bullish.
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Happy Trading!
