SP500 – Daily Analysis

The index pushed higher today, coming within striking distance of a new all-time high. On the surface, the bulls still appear to be in control—but several underlying signals suggest this may be a far more delicate setup than price alone implies. In today’s S&P 500 Technical Analysis, we examine the latest momentum structure, critical support and resistance levels, and the competing Elliott Wave scenarios to determine whether SPX is preparing for a clean breakout—or quietly setting the stage for another reversal trap. CANDLES & TA Signal I would not believe it if I had not built this complex indicator myself. Despite the market rally, my indicator moved even further down today. At this point, I am starting to wonder whether it really might be “different this time.” Emotions aside, the technical comparison remains unchanged. As discussed earlier, the closest historical maps are still either March 2020 or the broader 2022…