SP500 – Daily Analysis

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. The key question now is whether today’s move simply reinforced the existing bearish pressure—or whether the market is setting up for another sharp swing as it digests the Fed’s message. CANDLES & TA Four ETFs – Weekly SPX Today, SPX made solid bullish moves on the daily and 2D frames. The caveat is that both signals still require confirmation over the next two days, which is certainly possible. But tomorrow brings the weekly close, and I am not convinced at all that the majors can reverse the broader odds. SPX and Nasdaq are in a relatively favorable position and need only about 0.7–1% more to record bullish weekly signals. Russell, however, would need roughly 2.5%, and…