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

Daily Price Outlook

- Trendline Support: 5630 holds as a critical base.

- Momentum Fading: Recent spinning top near 5720 suggests buyer hesitation.

- Resistance Cluster: 5720 to 5785 remains a key barrier for further gains.

The S&P 500 is currently trading around 5663, holding above a critical trendline that has defined the broader uptrend since mid-March. The 50 SMA at 5630 is acting as immediate support, aligning closely with the rising trendline, reinforcing the short-term bullish structure.

However, the recent rejection near 5720, coupled with a bearish engulfing pattern, suggests a potential pullback as buyers struggle to break through this key resistance zone.

Technically, the RSI is at 53.02, showing a slight decline after briefly pushing above 60, indicating a loss of near-term momentum.

The index also formed a spinning top near 5720, reflecting market indecision. This level aligns with a key horizontal resistance, marking the upper bound of a recent consolidation range.

If prices can clear 5720, the next significant resistance stands at 5785, potentially opening the path to a broader rally. On the downside, a break below 5630 could expose the index to deeper losses, with immediate support at 5575 and a more substantial floor around 5515.

Overall, the S&P 500 remains in a cautiously bullish structure, but the recent rejection at 5720 highlights the need for a decisive breakout to confirm further upside.

S&P 500 - Trade Ideas

Entry Price – Buy Above 5630

Take Profit – 5720

Stop Loss – 5575

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$900/ -$550

Profit & Loss Per Mini Lot = +$90/ -$55