SP500 – Weekly Analysis

SPX has reached another critical checkpoint after a powerful recovery, but the next few sessions may decide whether this rally becomes a durable bullish reversal or merely another sharp counter-trend move. With the index testing the upper boundaries of its recent structure, the focus now shifts to the monthly close, short-term overstretch, and the next pullback. The candles, technicals, and Elliott Wave structure are all approaching a decision point. In this weekly report, we examine the latest signals across multiple timeframes, review the key support and confirmation levels, and outline the scenarios that could define the next major move for the S&P 500. CANDLES This week, SPX consolidated for most of the week and mostly normalized the overbought conditions we discussed in the previous weekly report. At this point, the weekly developments look healthy and signal that the index is entering a sizeable rally. The monthly frame is tracking bullish…