SP500 – Daily Analysis

Are the candlemaps ugly enough after today’s move—or is the market preparing to make them even worse? And, more importantly, have you been listening to our recent warnings? The key question now is whether the current SPX weakness remains a contained correction—or whether the index is preparing to accelerate into a much deeper decline that could materially reshape the broader stock market roadmap. After today’s move, that question is becoming increasingly urgent. In today’s S&P 500 Technical Analysis, we examine the latest candlestick and momentum signals, compare the leading Elliott Wave scenarios, and highlight the key support and resistance levels that could determine what comes next. CANDLES & TA Four Futures – Daily SPX The major index futures produced the most informative daily candles today. Both ES and YM formed fairly clean Three Black Crows, with YM/Dow also confirming a breakdown of the 50 DMA. RTY/Russell confirmed a reversal and…