SP500 – Daily Analysis
In today’s report, we look past the headlines and focus on the technical evidence beneath the surface. We review the latest signals, outline the next key targets, and assess whether the rally remains as healthy as it looks — or whether the statistics are starting to warn about something else.
CANDLES
Bulls fought hard today across the S&P 500 and other major indices. All indices had a chance to close with rather bearish signals if they had finished at the daily lows, but that did not happen. No strong bearish signal was formed, and SPX, along with the broader indices, remains bullish until signaled otherwise.
On a separate note, the weekly frame is currently tracking toward the ninth consecutive green candle, which would move the index into an overstretched zone on this timeframe. We should be prepared for some reaction there. That said, 10–14-week rallies have occurred in the past, so an extended streak alone is not an automatic reversal signal.
Elliott Waves
Last Wave
The futures may have developed a larger wave (iv), potentially setting the stage for a swift rally in wave (v).
If this path confirms, the next push higher could complete the current sequence, after which we may need to prepare for a larger pullback.
Live Trading Room
After triggering a Long 100% signal on May 26, the system issued no change to the position on May 27.
Midday updates and stop levels are available to Tier 2 members only.
SUMMARY
SPX remains bullish until signaled otherwise. Bulls defended the session well, avoided a bearish close, and kept the broader index structure constructive.
The main near-term watchpoint is technical stretch. The weekly frame is approaching an extended green-candle streak, and futures may be setting up for one more wave higher before a larger pullback develops. For now, the trend remains bullish, but the risk of a tactical reaction is increasing.
