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

Daily Price Outlook

- S&P 500 holds firm above 5673.60 pivot and 50 EMA at 5660.75.

- Resistance levels: 5784.91, 5865.56, and 5968.80.

-  Support zones: 5606.24, 5506.10, and 5407.38.

The S&P 500 is trading at 5693.32, up 0.05%, continuing its slow grind higher as equity markets digest macroeconomic cues. The index remains above its key pivot point at 5673.60, supported by the 50-period Exponential Moving Average (EMA) at 5660.75.

This alignment signals continued bullish momentum in the short term, with traders maintaining confidence in the broader trend.

Immediate resistance is seen at 5784.91. A sustained break above this level could open the door to further upside toward 5865.56 and potentially 5968.80.

The overall price structure remains bullish, with the index trading within an upward channel on the 4-hour timeframe. While the relative strength index (RSI) hints at slightly overbought conditions, there is no immediate sign of reversal.

On the downside, support is found at 5606.24. A breach below this level may prompt a corrective pullback toward 5506.10, followed by deeper support near 5407.38.

However, unless price slips below the pivot and loses the EMA support, pullbacks are likely to be viewed as buying opportunities.

For now, the path of least resistance remains to the upside. A buy-on-dip strategy above 5670 remains favorable, with a target near 5842 and a stop-loss at 5587 for risk-managed positioning.

S&P 500 - Trade Ideas

Entry Price – Buy Above 5670

Take Profit – 5842

Stop Loss – 5587

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$172/ -$830

Profit & Loss Per Mini Lot = +$17/ -$83