Having studied volume profile and price geometry I expect SPX to see 5734 today. I am showing trend convergence to confirm my target. Iast two days green bars have been with low volume, show low confidence so it needs to spend some time between 5620 and 5734 if it has to move higher. I also believe 5520 was the bottom, dipping below the long trendline to shake off weak hands. Only if inflation comes in higher in next reading we could break that. Aslo the fact that we have the highest shorts since Aug last year, makes the market bullish
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After having done a long term cycle chart, my opinion regarding 5520 being bottom has changed. I believe we are in a bear market this year of 2025
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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.