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

Daily Price Outlook

- Bullish Momentum: SPX holds above the pivot at 5918.26, with immediate resistance at 6011.99.

- EMA Pressure: The 50 EMA at 5997.91 serves as a key resistance level for the short term.

- Critical Support: A break below 5834.66 could signal bearish sentiment, targeting lower support at 5764.34.

The S&P 500 index (SPX) is trading near the pivot point of 5918.26, reflecting a cautious yet optimistic market tone.

Immediate resistance is seen at 6011.99, with further upside targets at 6099.55 and 6175.48. On the downside, immediate support lies at 5834.66, followed by deeper levels at 5764.34 and 5672.94.

The 50 EMA, positioned at 5997.91, highlights resistance to the ongoing bullish trend, signaling that bulls must clear this hurdle to sustain upward momentum. RSI readings hover near neutral, suggesting consolidation before a potential breakout.

A sustained move above 5918.26 could pave the way for gains toward 6011.99, with further buying interest likely targeting 6099.55.

Conversely, failure to hold above the pivot may trigger a retest of support at 5834.66, where a break could shift sentiment toward bearish territory.

Market participants are closely monitoring key economic data, particularly the U.S. labor report, for its potential impact on Federal Reserve policy.

A strong breakout above 6011.99 would confirm bullish momentum, while sustained pressure below 5834.66 may signal a deeper correction.

S&P 500 - Trade Ideas

Entry Price – Buy Above 5900

Take Profit – 6036

Stop Loss – 5825

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$1360/ -$750

Profit & Loss Per Mini Lot = +$136/ -$75