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

Daily Price Outlook

- Pivot and Resistance: Holding above $5,987.87 targets $6,017.29 and $6,056.54 resistance levels.

- Support Levels: Immediate support at $5,926.35, with the 50-day EMA at $5,939.36 providing dynamic reinforcement.

- RSI Momentum: RSI at 57 signals room for further gains without reaching overbought territory.

The SPX index is trading at $5,948.70, up 0.53% on the day, as the market shows signs of sustained upward momentum. The immediate resistance at $6,017.29 is within reach, with additional targets at $6,056.54. On the downside, immediate support is at $5,926.35, followed by key levels at $5,838.15 and $5,808.52, forming a solid base for potential pullbacks.

The pivot point at $5,987.87 serves as a critical threshold for continued bullish momentum. A decisive move above this level could propel the index further into resistance territory, while a breach below would signal caution.

The RSI currently reads 57, suggesting neutral momentum with room for further upside without triggering overbought conditions.

The 50-day EMA, currently at $5,939.36, is providing dynamic support, reinforcing the index's underlying strength. Traders are advised to consider entry points above $5,925 with a target of $6,000 and a stop-loss at $5,882.

A breakout above $6,017.29 could drive the index toward $6,056.54, though short-term corrections remain possible if broader market sentiment shifts.

S&P 500 - Trade Ideas

Entry Price – Buy Above 5925

Take Profit – 6000

Stop Loss – 5882

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$750/ -$430

Profit & Loss Per Mini Lot = +$75/ -$43