SP500 – Daily Analysis
In this daily update, we focus on the latest technical signals and the evolving prospects for the S&P 500. We assess current price action, momentum dynamics, and structural developments to determine how short-term probabilities are shifting and what levels will be decisive in confirming the next move.
CANDLES
SPX and the other major indices were unable to generate strong bullish candles today. While the sessions closed green, the positioning of those candles and the underlying technical backdrop suggest a higher probability of bearish continuation rather than a sustained rebound. Momentum deterioration is now spreading to higher time frames, particularly in Nasdaq and the S&P 500.
At best, the index can be described as neutral, but with increasingly dominant bearish pressure building beneath the surface.
Elliott Waves
Last Wave
Today, the index printed a new lower low below the February 13 level, and the move off that bottom has so far unfolded in a corrective manner. It still has the potential to transition into a motive wave, but we need another one to two sessions for the structure to mature and provide clarity.
At this stage, I am treating the latest decline as a clean impulsive move, labeled either in red or blue wave (i). The chart outlines three primary paths — dashed blue, red, and green. Each scenario has technical merit, and none clearly dominates at the moment.
P.S. I will be leaving tomorrow morning and returning on Monday. The plan was to step away from the screens to recharge, but it appears Mr. Market may have other ideas. Kyle will oversee the Discord room, and David will continue running Live Trade as usual. For assistance, please contact help@investingangles.com or investingangles@gmail.com.
