SP500 – Daily Analysis

SPX slipped 0.5% today. Nasdaq took a heavier 1.4% hit. Panic? Hardly. But the candles may have a few things to say before anyone gets too comfortable. In today’s S&P 500 Technical Analysis, we dig into the latest candle structure, shifting momentum, and the support/resistance levels that now matter most. Then we put the competing Elliott Wave scenarios back under the microscope to see whether SPX is still building a legitimate breakout—or quietly laying another trap beneath the surface while the headlines keep celebrating the highs. CANDLES & TA Signal The indicator continues to slide with no sign of a reversal. For now, there is really nothing else to add—the message remains unchanged. Four Futures The futures remain the most informative candles for now. NQ completed a daily reversal and produced a very serious Bearish Engulfing on the 2D frame. ES came very close. Both RTY and YM formed potential…