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

Daily Price Outlook

- SPX trades near $5919.77 pivot, with resistance at $6005.28 and support at $5852.81.

- RSI at 26 signals oversold conditions, but the bearish trend persists below the 50 EMA at $6032.28.

- Break below $5852.81 may trigger further losses; recovery above $6005.28 needed for bullish reversal.

The S&P 500 Index (SPX) is trading at $5867.07, reflecting a slight dip of 0.09% in today’s session. The index is consolidating near the $5919.77 pivot point on the 4-hour chart, signaling cautious sentiment among traders.

Immediate resistance lies at $6005.28, with further barriers at $6070.88. A sustained breakout above these levels could reverse the recent downward trajectory, with bullish momentum targeting higher highs.

On the downside, immediate support is found at $5852.81, with critical levels at $5804.87 and $5754.58.

Technical indicators lean bearish, with the RSI at 26 indicating oversold conditions. While this could suggest a short-term bounce, the price remains below the 50 EMA at $6032.28, reinforcing the overall bearish bias.

A decisive break below $5852.81 could accelerate selling pressure, testing deeper support levels. Conversely, recovery above the pivot at $5919.77 is necessary to regain upward traction.

Traders should consider a cautious strategy amid this oversold scenario. A sell limit around $5908, targeting $5837 with a stop loss at $5940, aligns with the bearish outlook.

A move below $5804.87 would confirm further downside potential, while a recovery above $6005.28 could negate the bearish trend.

S&P 500 - Trade Ideas

Entry Price – Sell Limit 5908

Take Profit – 5837

Stop Loss – 5940

Risk to Reward – 1: 2.2

Profit & Loss Per Standard Lot = +$710/ -$320

Profit & Loss Per Mini Lot = +$71/ -$32