S&P500 (SPX) Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Bearish Risk: A break below 6045 could drive the index to 5980 and 5906.

- Upside Targets: Clearing 6092.04 opens the path toward 6140.58.

- Technical Support: 50-day EMA at 6020.59 aligns with cautious sentiment.

The S&P 500 index is trading at 6037.58, down slightly by 0.04%, reflecting a cautious tone near the pivot point at 6047.03. On the 4-hour chart, the index shows signs of consolidation above the 50-day EMA at 6020.59, with the RSI at 58 indicating moderate bullish momentum, though strength appears to be fading.

Immediate resistance is seen at 6092.04, followed by 6140.58 and 6192.73. A sustained move above these levels would signal renewed bullish momentum and potential for further gains. On the downside, support lies at 5982.79, with deeper levels at 5906.16 and 5841.25.

A break below 6045 could trigger additional selling pressure, pushing the index toward 5980 and possibly lower. Alternatively, holding above the pivot at 6047.03 could reignite upward momentum, with bulls targeting resistance at 6092.04. Traders should watch these levels closely, as a breakout will provide clarity on the next trend.

S&P 500 - Trade Ideas

Entry Price – Sell Below 6045

Take Profit – 5980

Stop Loss – 6098

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$650/ -$530

Profit & Loss Per Mini Lot = +$65/ -$53