SP500 – Daily Analysis

The market has already started reacting to the warning signals we have been tracking—but the real question is whether this is just a little crack, or the beginning of a much larger break. In today’s S&P 500 Technical Analysis, we examine the latest candlestick signals, momentum structure, key support and resistance levels, and the competing Elliott Wave scenarios to determine what the market may be quietly preparing for next. CANDLES & TA Signal My signal continues to fall, and the downside momentum appears to be accelerating. So far, there is still no meaningful bullish response in sight. Four ETFs SPX SPX and the other major indices closed today with various bearish candles. SPX also formed a sizeable Dark Cloud Cover on the 5D frame. The short- and mid-term outlook is bearish, although it still requires some momentum confirmation. But the most interesting development is happening on the monthly frame. If…