SPX500 | Weekly Outlook
The S&P 500 continues its bullish run, trading at record highs as investors await a critical week of tech earnings. Reports from Alphabet and Tesla could be key in justifying the lofty valuations driven by the AI boom.
Technical Outlook:
The price is expected to consolidate between 6341 and 6283 before any decisive move. A short-term bearish correction may occur initially, but if the price holds above the support zone, a push toward a new ATH at 6341 is likely. A breakout above this level could extend gains toward 6375 and 6393.
However, a break below 6283 would indicate weakness, potentially driving the price toward the demand zone near 6250 and 6224.
Support: 6283 · 6250 · 6224
Resistance: 6341 · 6375 · 6393
The S&P 500 continues its bullish run, trading at record highs as investors await a critical week of tech earnings. Reports from Alphabet and Tesla could be key in justifying the lofty valuations driven by the AI boom.
Technical Outlook:
The price is expected to consolidate between 6341 and 6283 before any decisive move. A short-term bearish correction may occur initially, but if the price holds above the support zone, a push toward a new ATH at 6341 is likely. A breakout above this level could extend gains toward 6375 and 6393.
However, a break below 6283 would indicate weakness, potentially driving the price toward the demand zone near 6250 and 6224.
Support: 6283 · 6250 · 6224
Resistance: 6341 · 6375 · 6393
Trade active
SPX500 OVERVIEWThe latest round of strong earnings from major corporations helped propel U.S. indices higher, with the S&P 500 and Nasdaq Composite both printing fresh all-time highs.
However, market momentum may face resistance as we head into a pivotal week with the Magnificent 7 earnings on deck.
Moreover, uncertainty looms over the future direction of interest rates. While former President Trump aims to appoint a Fed chair more aligned with his policy outlook, markets should not assume aggressive rate cuts are guaranteed.
🔍 Technical Outlook (SPX500 | 4H/1H)
The overall trend remains bullish, as anticipated yesterday. Price precisely tested our key resistance at 6341, then reversed.
Given the significance of today’s earnings, we expect bullish momentum to continue—though some corrections may occur intra-day.
• Resistance: 6318 · 6341 · 6375
• Support: 6283 · 6250 · 6223
Trade closed: target reached
SPX500 UpdateThe price moved higher as expected and now appears to be consolidating between 6,318 and 6,341.
A 1H close above 6,341 would confirm a bullish continuation toward 6,375 and 6,393.
On the other hand, a break below 6,318 may trigger bearish momentum toward 6,283.
Key Levels:
Pivot: 6,341
Resistance: 6,375 · 6,393
Support: 6,318 · 6,283
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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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.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Related publications
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.