All the world events going on right now has put the S&P in a very interesting position. Even on the brink of war we have seen the SPX pushing towards all time highs. Right now it is entering the major supply zone (where we have seen many tops form) between $6,090 and $6,150. This supply zone has been forming since Dec 2024 and is very important to keep and eye on. Either price will create a macro double top/M pattern and lead us back towards the lows, or we will break above this supply zone a start the expansion phase towards our 1.618 which is currently just slightly below $7k.
The macro looks amazing as our lower white line represents of 2021 previous ATH and during the tariff collapse perfectly got flipped into a new level of support which we represent as our 2025 Macro Low.
The short term is also looking decent. We have identified price is about to enter major resistance so if we do see a pullback we want to target that $5,800 level as the level buyers need to hold to continue momentum. If buyers can push price to new highs in the short term we expect to see that move towards $7k by the end of the year.
The macro looks amazing as our lower white line represents of 2021 previous ATH and during the tariff collapse perfectly got flipped into a new level of support which we represent as our 2025 Macro Low.
The short term is also looking decent. We have identified price is about to enter major resistance so if we do see a pullback we want to target that $5,800 level as the level buyers need to hold to continue momentum. If buyers can push price to new highs in the short term we expect to see that move towards $7k by the end of the year.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.