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

Daily Price Outlook

- Bearish Momentum: S&P 500 remains bearish below the 50 EMA at 6047.19 and the Pivot Point at 5887.91.

- Support Levels: Key supports at 5773.29, 5715.01, and 5663.83.

- Resistance Levels: Immediate resistance at 5962.87, followed by 6043.48 and 6144.23.

S&P 500 is trading at 5861.56, down 0.01%, reflecting cautious market sentiment as it hovers below the Pivot Point at 5887.91. The index faces immediate resistance at 5962.87, followed by stronger barriers at 6043.48 and 6144.23.

These resistance levels coincide with the 50-day Exponential Moving Average (EMA) at 6047.19, signaling continued selling pressure unless the index breaks above this level.

On the downside, immediate support is observed at 5773.29, with further cushions at 5715.01 and 5663.83. A break below 5773.29 could accelerate the bearish trend, pushing the S&P 500 towards lower support zones.

Conversely, a sustained move above 5887.91 could challenge the 5962.87 resistance level, potentially shifting momentum toward the bulls.

The technical setup indicates a bearish bias as long as the S&P 500 trades below the 50 EMA and the Pivot Point. The 4-hour chart shows a descending trendline, reinforcing selling interest. If the price fails to reclaim the 5887.91 level, it is likely to face continued downward pressure.

For now, the recommended strategy is to Sell Below 5887, with a Take Profit at 5774 and a Stop Loss at 5962. Traders should watch for price action around 5887.91, as a break above this level could invalidate the bearish outlook and trigger a short-term recovery.

S&P 500 Price Chart - Source: Tradingview

S&P 500 - Trade Ideas

Entry Price – Sell Below 5887

Take Profit – 5774

Stop Loss – 5962

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1130/ -$750

Profit & Loss Per Mini Lot = +$113/ -$75