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

Daily Price Outlook

- S&P 500 holds key support at 5,211, eyeing breakout above 5,345.

- RSI stabilizing near 50 suggests momentum reset.

- Watch 5,433 as crucial trend resistance to reclaim.

The S&P 500 is attempting to stabilize after its recent selloff, now consolidating around 5,268. A modest bounce from the 5,200 zone has brought the index back into a key technical confluence near the descending trendline and the 50-period SMA at 5,433. This area is critical, as it marks a cluster of resistance from both a structural and moving average standpoint.

The index remains range-bound between 5,208 and 5,345, with short-term buyers showing interest above 5,211 support. The RSI at 49.76 reflects a neutral momentum tone, suggesting potential for either a breakout or more consolidation.

A sustained move above 5,345 would expose the next key resistance at 5,400, while a failure to clear this level could see the index revisiting 5,211 and possibly 5,108.

Price structure suggests a higher low is forming near 5,200, with the broader uptrend still technically intact as long as the ascending trendline holds. The 50 SMA, currently at 5,433, will act as a key barrier for bulls to reclaim in order to shift sentiment more decisively upward.

S&P 500 - Trade Ideas

Entry Price – Buy Above 5208

Take Profit – 5400

Stop Loss – 5108

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$1920/ -$1000

Profit & Loss Per Mini Lot = +$192/ -$100