SP500 – Road Map
Tomorrow’s Fed rate decision arrives with SP500 sitting at a short-term crossroads.
After today’s pullback, the index remains technically neutral, but the next move could define whether this is just a routine consolidation after a strong rally, or the first warning that broader market weakness is starting to spread.
In this Road Map update, we outline the most probable SP500 paths for tomorrow, identify the key technical triggers, and focus on the levels that could decide the next move after the Fed announcement.
Elliott Waves
Micro Path
The red path will likely invalidate.
If ES makes a new higher high overnight, it will likely form an impulse, wave i, in green, making tomorrow the day of wave ii.
If ES fails to form an impulse, the purple count will take the stage. A break below 7164.75 would provide clear confirmation, provided that cross happens before a new higher high.
The other index futures remain mixed. NQ possibly formed an impulse off the bottom, but YM and RTY remain clearly corrective, pointing to at least one more lower low.
Tomorrow will likely be a pivotal day that helps align the indices.
