SP500 – Weekly Analysis
In today’s technical analysis, we look past the headlines and examine the latest S&P 500 and broader market signals, momentum shifts, market structure, sector behavior, and key technical levels to assess the most probable direction and potential targets. CANDLES On Friday, SPX had a chance to form at least a short-term top if bears were able to hold the closing price below Wednesday’s low. However, that did not happen, and weakness from one side immediately turned into strength for the other. As a result, the daily frame closed with a bullish-leaning doji, while the weekly frame formed a Bullish Harami. Both timeframes held major support levels, and the daily frame also technically confirmed an 8/20 EMA bullish cross. Monday will be a very important momentum day, as the 2-day, 3-day, and 7-day frames are all set to close. If SPX continues even modestly higher, those frames could confirm a momentum…
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