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

Daily Price Outlook

- Resistance Levels: Immediate resistance at 6021.13, followed by 6099.55 and 6165.39.

- Support Levels: Key support at 5873.95, with additional levels at 5781.13 and 5705.34.

- EMA Dynamics: The 50-day EMA at 5959.73 reinforces bearish momentum, acting as a barrier to upward movement.

The S&P 500 index (SPX) is trading at 5937.35, down 0.21%, as it hovers below the pivot point at 5962.43.

The index is under pressure amid cautious market sentiment, with immediate resistance seen at 6021.13, followed by higher levels at 6099.55 and 6165.39.

On the downside, support is firmly established at 5873.95, with deeper levels at 5781.13 and 5705.34 offering further stability.

The 50-day EMA at 5959.73 is currently acting as a near-term ceiling, limiting bullish momentum. Failure to reclaim the pivot point could signal continued bearish sentiment, potentially driving the index toward immediate support at 5873.95. Conversely, a sustained move above 5962.43 may shift sentiment, targeting resistance at 6021.13.

From a technical perspective, the broader trend remains cautious, with the index consolidating within a tight range.

A break below 5873.95 would confirm a bearish bias, likely leading to further declines toward 5781.13. On the upside, overcoming the resistance at 5962.43 could open the path to 6021.13, supported by improved market sentiment.

S&P 500 - Trade Ideas

Entry Price – Sell Below 5963

Take Profit – 5873

Stop Loss – 6023

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$900/ -$600

Profit & Loss Per Mini Lot = +$90/ -$60