SP500 – Weekly Analysis

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 During the week, SPX shrugged off all short-term potential bearish signals and, following the prior weekly odds, closed the week with another constructive signal. Overall, SPX remains bullish across the board, with some risk of a technical pullback, mostly due to the need to reset overbought conditions on frames up to the 2D. While SPY and QQQ remain bullish with increasing mid- and long-term technical support, the recent signals in DIA and IWM are worth watching. Their short-term signals remain bearish, although still unconfirmed. Elliott Waves Possible Impulse At the beginning of April, we began tracking a potential impulsive wave off the March 30 low. After the initial impulse, marked as wave 1 in both…