SP500 – Daily Analysis
We examine the S&P 500 using our established multi-frame playbook, blending candlestick reads, technical indicators, and Elliott Wave structures. This lets us pinpoint momentum shifts, gauge probabilities across short-, mid-, and long-term horizons, and map the most likely paths. Today’s Daily Analysis applies this framework to interpret the latest signals and outline potential scenarios.
CANDLES
SPX likely closed with an On-Neck combo, which carries higher odds of bullish continuation. The 2D frame finally overcame the Bearish Engulfing from three periods ago, and the futures’ 3D frame similarly resolved recent bearish uncertainty. The weekly setup looks convincingly bullish for tomorrow. Barring an unlikely ~2.5% drop tomorrow, the weekly close should be bullish or neutral-bullish (consolidation).
Short term: SPX — bullish
Mid term: SPX — bullish
Long term: SPX — bullish
Elliott Waves
SPX
Mid Term
It looks like the S&P 500 and Nasdaq are realigning, indicating that wave 3 can continue. The purple count remains primary. The green count stays on the chart, but its probability has decreased.
Short Term
No changes at the micro level.
SUMMARY
SPX overcame short-term bearishness of the end of September, and it appears bears won’t penetrate the weekly frame. Absent a ~2.5% drop tomorrow, SPX is bullish across all frames.
Short term: SPX — bullish
Mid term: SPX — bullish
Long term: SPX — bullish
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Happy Trading!
