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

Daily Price Outlook

- SPX shows a bearish bias below the pivot point of 5987.18, with the RSI at 48 indicating weak momentum.

- Immediate support rests at 5924.15, with the 50-day EMA at 5883.23 as a critical level to watch for further downside.

- Resistance at 6017.29 could challenge any reversal, keeping the short-term outlook cautious and risk-focused.

The SPX index is trading at 5949.16, down 0.61%, and currently below the pivot point of 5987.18, indicating a slight bearish tone in the market. With the RSI at 48, the momentum is mildly bearish, as the indicator remains below the neutral 50 mark, yet close enough to suggest potential for a rebound if buying pressure emerges.

Immediate resistance sits at 6017.29, followed by 6056.54 and a more distant level at 6103.34. Breaking above the pivot point and first resistance would be essential for reversing the current bearish sentiment.

On the downside, immediate support lies at 5924.15, and a breach here could open the path toward the next support levels at 5877.15 and 5838.15. Notably, the 50-day EMA is positioned at 5883.23, aligning with the lower support level, which may serve as a key point for traders to monitor.

If the index remains below the pivot and fails to surpass the 50-day EMA, bearish sentiment could dominate, pushing the SPX toward deeper support.

The recommended entry strategy suggests selling below 5988, targeting a take-profit level of 5928, capitalizing on anticipated downside momentum.

However, a stop-loss at 6033 is advised to mitigate risk should the index break above the pivot, potentially reversing the trend. The overall outlook remains cautiously bearish unless SPX can decisively reclaim the pivot and break above resistance.

S&P 500 - Trade Ideas

Entry Price – Sell Below 5988

Take Profit – 5928

Stop Loss – 6033

Risk to Reward – 1: 1.12

Profit & Loss Per Standard Lot = +$600/ -$450

Profit & Loss Per Mini Lot = +$60/ -$45