SP500 – Daily Analysis

It looks like SPX may need another day or two to fully develop either wave (b) or wave ii. At least, the candles give us clean boundaries to watch. In today’s S&P 500 Technical Analysis, we break down the newest candlestick and momentum signals, evaluate how they align across the four major indices and key S&P 500 sectors, compare the leading Elliott Wave scenarios, and highlight the technical levels that could matter most over the next few sessions. The key question is whether the current weakness remains a contained correction—or whether SPX is about to accelerate into a much deeper decline that could materially reshape the broader market roadmap. CANDLES & TA Four ETFs – Daily SPX The cleanest signal today came on the daily SPX frame. There is an elevated probability that the index is working on an extended Falling Three Methods pattern. The August 20 candle will be…