SP500 – Weekly Analysis

Markets remain nervous, and this week’s decline in SPX is a sensible result. But the main question still hangs: was this a sizeable top, or just a regular corrective move — a consolidation before the next leg higher? Noise aside, this weekly SPX analysis reviews the latest technical signals, sector behavior, and Magnificent 7 signals, while outlining the most probable short- and mid-term paths for the S&P 500. CANDLES & TA With all respect to the bears, they have not done enough this week. They were close to confirming a weekly top. They were close to forming a top on the 2D frame. But the only frame that is currently moderately bearish is the daily. The monthly frame is on the verge. A close at the current level or lower would be bearish, with the severity depending on the exact closing level. At the same time, even a modest advance…