$SPX Path of least resistance is higher. Next Stop : 6500 This week we officially recovered all the losses from the liberation day low. We had a 20% bear market crash and since then there has been a V shaped rally in the major averages. NASDAQ:QQQ and SP:SPX have fully recovered the losses and then some. It is 0% form its ATH. We have been closely following the chart of SP:SPX for the last few weeks and have marked various Fib Retracement levels and Fib Extenstion. IN my opinion the Covid lows were one of the majot drawdown moments.
If we plot the Fib Extension on the COVID highs and lows, we can clearly see the Support and Resistance zones. As per the Fib Levels the next consequential level in SP:SPX will be 6550, which is the 3.618 Fib level. That I would suggest as the path to least resistance. First, we go higher before we can see any major correction. In case of a Major correction, we get support @ 5300.
Verdict : SP:SPX goes higher first before correction. 6550 is the next stop.
S&P 500 (SPX500)
S&P 500 Daily Chart Analysis For Week of June 27, 2025Technical Analysis and Outlook:
During the current trading week, the S&P 500 Index has predominantly demonstrated an upward trajectory, surpassing the Mean Resistance level of 6046, the Outer Index Rally target of 6073, and the critical Key Resistance threshold of 6150. Currently, the index is exhibiting a bullish trend, indicating potential movement towards the Outer Index Rally objective of 6235. However, it is essential to note that there is a substantial probability that prices may retract from their current levels to test the Mean Support at 6136 before experiencing a resurgence.
S&P500: Target Zone DeactivatedThe S&P 500 extended its bullish trend yesterday, moving beyond our now-deactivated (formerly magenta) Target Zone. Existing positions remain intact, as the stop set 1% above the upper boundary has not been triggered. In our updated primary scenario, we anticipate continued upward movement within magenta wave (B), potentially reaching the resistance at 6675 points. Once this peak is established, we expect a corrective decline to begin in the form of wave (C), which should guide the index into the green Long Target Zone between 4988 and 4763 points. There, the larger green wave is expected to complete. A sustained breakout above the 6675-point level would shift the outlook in favor of the alternative scenario. In that case, green wave alt. would be considered complete—a trajectory we currently assign a probability of 40%.
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S&P 500 hits fresh records: Levels to watchBreaking its February peak, the S&P 500 has joined the Nasdaq 100 in hitting a new record high this week. The latest gains came on the back of a sharp de-escalation in the Middle East and mounting pressure on the Fed to cut rates.
They question is whether it will kick on from here or we go back lower given that trade uncertainty is still unresolved. Indeed, there’s the upcoming 9 July deadline, when the current reciprocal tariff truce is due to expire. Unless it’s extended—or replaced by something more concrete—we could be in for another wave of trade tensions.
It is also worth remembering the ever-looming US fiscal showdown. Trump’s much-touted spending bill—nicknamed the “One Big Beautiful Bill”—is targeting a Senate vote by the 4th of July. If passed, it could reignite concerns about ballooning deficits and inflationary pressure.
Anyway, from a purely technical analysis point of view, the path of least resistance continues to remain to the upside. Thus, we will concentrate on dip buying strategy than looking for a potential top - until markets make lower lows and lower highs again.
With that in mind, some of the key support levels to watch include the following:
6069 - the mid-June high, which may now turn into support on a potential re-test from above
6000 - this marks the launch pad of the latest rally and marks the 21-day exponential average
5908 - this week's low, now the line in the sand. It wouldn’t make sense for the market to go below this level if the trend is still bullish.
Meanwhile, on the upside:
6169 is the first target, marking the 161.8% Fib extension of the most recent downswing
6200 is the next logical upside target given that this is the next round handle above February’s peak of 6148
By Fawad Razaqzada, market analyst with FOREX.com
Hellena | SPX500 (4H): LONG resistance area of 6176 (Wave 1).Colleagues, the previous forecast remains essentially unchanged, and the target is still 6176, but I think the forecast can be updated because the price has been flat for quite some time.
I still expect the upward movement to continue in the large wave “1” and in the medium-order wave “5”.
A small correction to the support area of 5873 is possible.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
S&P500 Bullish breakout support at 6040 The US dollar hit a three-year low and Treasury yields declined after reports suggested Donald Trump may replace Fed Chair Jerome Powell earlier than expected. Investors interpreted this as a sign that rate cuts could come sooner, adding uncertainty to the outlook for the dollar and US bonds—already under pressure from tariff concerns and a growing fiscal deficit.
Oil Sector:
Shell ruled out a takeover bid for BP, putting to rest speculation of a potential mega-merger between the two energy giants. Despite BP's weak stock performance and activist pressure, Shell appears unwilling to pursue a deal.
Corporate Highlights:
Nvidia shares hit a record high, once again becoming the world’s most valuable company.
Xiaomi launched its first electric SUV, the YU7, aiming to challenge Tesla’s Model Y.
Shell denied reports of merger talks with BP, reaffirming its current strategy focus.
Key Support and Resistance Levels
Resistance Level 1: 6145
Resistance Level 2: 6178
Resistance Level 3: 6210
Support Level 1: 6040
Support Level 2: 6010
Support Level 3: 5978
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
SPX is overheated, a correction is necessary📉 Market Update: No, It Has Nothing to Do with Trump
This move has nothing to do with Trump’s dramatic announcements. The reality is simple: the MACD on the daily chart is overheated, and a healthy correction is needed — likely down to the 5,520 level — before resuming the uptrend.
Now, does it surprise anyone that Trump acts like a PR agent for his investors? He always seems to drop “bad news” at the exact moment the charts call for a pullback. My guess? They're shorting right now.
🪙 Bitcoin Stalling
CRYPTOCAP:BTC is also losing momentum, and looks like it’s in need of a short-term correction as well. This suggests a week of consolidation ahead for the whole crypto market.
But let’s be clear:
🚀 The Bull Market Is Not Over
The weekly charts remain very bullish, and this trend could last another 4–6 months. The macro bullish structure for crypto remains intact.
However, in TradFi, there are cracks:
🔻 20-year bonds sold at 5.1% — a major recession red flag
💸 Tariffs are putting pressure on global trade
📉 The entire traditional market is starting to de-risk
🔮 What to Expect
Short-term correction to ~5,518 (first bottom target)
A possible rebound after healthy consolidation
A continued uptrend in crypto unless key support breaks
I’ll publish a new update when conditions change.
📌 Follow me to stay ahead of the market. And as always: DYOR.
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Surprising ups and downs in global indicesJune brought contrasting moves across global stock markets: while the U.S. and Asia posted gains, Europe struggled under pressure. Rising tensions between Iran and Israel, political instability in the EU, and shifting rate expectations fueled volatility. In search of stability, investors turned to U.S. tech and exporters — pushing the S&P 500 (#SP500) and Nasdaq 100 (#NQ100) higher.
Key market movers in June:
• #SP500 (+0.96%), Dow Jones (#DJI30) (+0.89%), #NQ100 (+0.94%) – buoyed by dovish Fed tone and Iran’s restrained response to U.S. strikes. #Tesla surged 8.2%, with #IBM also among top gainers.
• Hong Kong 50 (#HSI) (+3%) – lifted by strong retail data and hopes of new stimulus from China.
• Australia 200 (#ASX) (+1.25%) – boosted by RBA rate cut expectations and strong tech sector performance.
• France 40 (#CAC40) (–2.76%) – weighed down by political risks and weakness in luxury stocks.
• Europe 50 (#ESTX50) (–1.8%) – hurt by soft ECB tone and weaker business activity.
• DAX 30 (#DAX30) (–3%) – pressured by weak industrial data and fading Chinese demand.
S&P 500 and Nasdaq 100 continue to rise on solid macro data, a softer Fed stance, and strong earnings from major tech players. Analysts at FreshForex believe investor confidence in the U.S. recovery supports the ongoing bullish trend.
SPY/QQQ Plan Your Trade for 6-25 : Breakaway PatternToday's Breakaway pattern suggests the SPY/QQQ may attempt to move into another breakaway price move - very similar to yesterday's price move.
I will add that I believe the SPY cycle patterns have already moved through a breakaway phase with the ceasefire news early this week. I believe the gap and breakaway move yesterday may be the breakaway trend we are expecting today.
That would suggest the markets could pause and pullback a bit over the next few days.
Gold and Silver are trying to find a bottom after the brief selling that took place over the past few days. I really do believe Gold and Silver are poised to make a big move higher.
Bitcoin is on a terror to the upside. But be cautious of the downward cycle channel that may prompt a rollover in BTCUSD near the $107,500 level.
I spend a little time near the end of this video highlighting my work on the Tesla 3-6-9 price theory and going over a few examples for my new book on trading.
Enjoy the quick look at some of the more advanced techniques I'm working to unlock for all of you.
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SPX500 Short There are multiple patterns on M15 and H1
All timeframes up to H4 are overbought
There are multiple double tops with divergence
This is at the all-time high, suggesting there will be a lot of resistance
Markets look like they are due for a drop after such a sharp move up\
Stop loss above 6130
SPY/QQQ Plan Your Trade For 6-24 : Post Market UpdateThis post-market update highlights the weakening volume while my primary proprietary modeling system continues to stay BULLISH.
The markets are really quite interesting right now. Weakening volume in this Gapping uptrend, today, suggests traders are not buying into the ceasefire between Iran and Israel.
Additionally, the move in metals suggests a PANIC phase has setup in the US markets.
This type of panic phase typically leads to selling of assets and moving capital into CASH.
I suggest traders continue to prepare for a moderate melt upward trend over the next few days - but be prepared for any potential breakdown (possibly trying to FILL THE GAP).
This market appears to be running on fumes.
While I believe Trump's policies will lead to a stronger bullish price trend over the next few years, these disruptions and the potential for consumers to pull away from spending/economic activity over the second half of 2025 is still very real.
Buckle up.
At this point, hedge your trades, move some capital into CASH and prepare for bigger price volatility as we move into July 2025.
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S&P 500 (SPX) 1M next week?The S&P 500 is pulling back from a key resistance after completing a bearish AB=CD pattern on the monthly chart. Price action suggests a potential correction toward the 4662–4700 zone, aligning with the 0.618 Fibonacci retracement level, which may serve as a key area for bullish reaccumulation. Momentum indicators show bearish divergence, hinting at a cooling rally.
Fundamentally, the index remains supported by strong earnings in tech and AI sectors, but risks persist from elevated interest rates, sticky inflation, and potential Fed policy shifts. A pullback into the 4662–4700 zone may offer a medium-term setup for continuation toward 5198 and potentially 5338. A breakdown below 4662 would invalidate the bullish structure and shift focus to lower Fibonacci levels.
S&P500 Bullish breakout support at 5980A fragile ceasefire is in place between the U.S. and Iran, but both sides are still blaming each other for missile attacks. Tensions remain high, especially as Iran’s stockpile of near-weapons-grade uranium is missing. Markets were shaken—stocks gave back some gains and oil prices dipped after Israel threatened to respond.
In business news, Nvidia’s CEO Jensen Huang began selling shares as part of a plan worth up to $865 million. Starbucks denied it's selling its China business, and Northern Trust said it won’t merge with BNY Mellon.
Fed Chair Jerome Powell will speak to Congress today, likely defending the decision to keep interest rates steady until at least September, despite pressure from Trump for major cuts.
NATO leaders are meeting in the Netherlands, with talks focused on defense spending. Trump is expected to push allies to meet the 5% target.
Key Support and Resistance Levels
Resistance Level 1: 6115
Resistance Level 2: 6147
Resistance Level 3: 6180
Support Level 1: 5980
Support Level 2: 5950
Support Level 3: 5910
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Stock Markets Rebound Following Trump’s Ceasefire AnnouncementStock Markets Rebound Following Trump’s Ceasefire Announcement
Last night, U.S. President Donald Trump made a social media post announcing a ceasefire agreement between Iran and Israel. According to his own words, the ceasefire is set to last “forever.” This announcement triggered a sharp bullish impulse (indicated by the blue arrow) on the S&P 500 index chart (US SPX 500 mini on FXOpen), pushing the price to a new high above the 6074 level.
Just yesterday, traders feared that the United States could be drawn into yet another costly war following bomber strikes on Iran’s nuclear facilities. However, today the stock markets are recovering, signalling growing optimism and a waning of fears over a major escalation of the conflict.
Technical Analysis of the S&P 500 Chart
When analysing the S&P 500 index chart (US SPX 500 mini on FXOpen) seven days ago, we identified an ascending channel. The angle of the trend remains relevant, while the width of the channel has expanded due to the downward movement caused by tensions in the Middle East.
Notably:
→ the price marked the lower boundary of the channel as well as the internal lines (shown by black dots) dividing the channel into quarters;
→ the latest bullish impulse suggests that the upward trend is resuming after breaking out of the correction phase (indicated by red lines).
It is possible that in the near future, the S&P 500 index (US SPX 500 mini on FXOpen) could reach the median line of the channel. There, the price may consolidate, reflecting a balance between buyers and sellers—particularly if the peace in the Middle East proves to be lasting.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
SPY (S&P500 ETF) - Price Bouncing Up from Support after NewsSPY (S&P500 ETF) price has bounced up from the $593 support level after recent global news (de-escalation news).
Price action has slowed and consolidated in June 2025, and the S&P500 is still maintaining a price uptrend.
The 50EMA and 20EMA Golden Cross is still active and in progress (since May 2025).
The next stock market earnings season is not for another 3 months. Inflation, interest rate news, global events, government news, corporate news will continue to affect price volatility this summer.
Resistance Levels: $604, $610, $612, $619.
Support Levels: $600, $593, $586, $579.
SPY/QQQ Plan Your Trade For 6-23 : Afternoon UpdateWhat happened to the CRUSH pattern?
Everyone wants to know why the CRUSH pattern didn't show up today. Well, I keep telling all of you these SPY Cycle Patterns are based on GANN, Tesla and Fibonacci price structures. They do not take into consideration news, global events, or anything outside of PRICE.
They are predictive - meaning they attempt to predict potential price shapes/patterns weeks, months, and years in advance.
The markets, obviously, are seeking some normalcy after the Iran conflict. I thought the CRUSH pattern would have been a perfect fit for today - but obviously the markets didn't agree.
If you have been following my videos, you know I keep saying the US stock market is acting as a global hedge for risks. Traders are pouring capital into the US stock market as a way to avoid global risk factors.
Traders are also pouring capital into Gold/Silver. Demand for physical metals is through the roof right now.
Time will tell if my Excess Phase Peak pattern plays out as I expect or if we rally to new ATHs.
Obviously, this sideways rollover topping pattern could present a breakaway in either direction.
Again, my patterns are not correlated based on news or other events. They are strictly price-based.
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SPY/QQQ Plan Your Trade For 6-23 : CRUSH PatternToday's CRUSH pattern suggests the markets will struggle to find any support for a rally. A CRUSH pattern is usually a large breakdown type of price bar that moves aggressively against the dominant trend.
Som, today I'm expecting some fairly large price action and I believe the markets may start a breakdown move this week as we continue to get more news related to the Israel/Iran/US conflict.
This week will be a "resettling" week in my opinion. Buyers will start to actively liquidate and reposition assets as we move deeper into this conflict. When buyers turn into sellers (to get out), the markets usually react very aggressively in trend.
Metals continue to hold up without making any big moves. I believe the increased FEAR level could play out as a moderate rally for metals over the next 15-30+ days.
BTCUSD broke down very hard (more than 6%) over the past 3-4+ days. This is a big move downward for Bitcoin and could suggest US technology stocks/sectors could also collapse on fear of a "rollover top" in the US stock market.
Smart traders will hedge and pull capital away from this potential top - just like I've been suggesting for the past 2-3+ weeks.
Oddly enough, if we do get a rollover/top this week because of the Iran conflict, it plays right into my Excess Phase Peak pattern and the predictions I've been making over the past 4+ months.
No, I don't foresee events like this Israel/US/Iran conflict. I can't see into the future.
What I can do, and continue to try to deliver, is the best analysis I can offer without becoming BIASED by indicators, comments, or other inputs.
I just read the chart and will tell you what I see as the most likely outcome.
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S&P500 calm reaction to geopolitical riskGeopolitics:
The US launched airstrikes on Iran, raising global tensions. Iran has vowed to retaliate, and Israel isn’t backing down. Trump warned of more action if Iran doesn’t make peace. The US issued a global travel alert, airlines are avoiding the Gulf, and Japanese banks may pull staff from the region. Oil is in focus, especially with tankers avoiding the Strait of Hormuz.
Markets:
Reactions were calm overall. The US dollar gained, oil prices rose briefly, and stock futures were mixed as investors waited to see what Iran does next.
Corporate News:
BNY Mellon is reportedly in talks to merge with Northern Trust, which could lead to a major deal in the banking sector.
Tesla launched its first robotaxi service in part of Austin, aiming to spark new growth after a sales slump.
Key Support and Resistance Levels
Resistance Level 1: 6018
Resistance Level 2: 6043
Resistance Level 3: 6070
Support Level 1: 5910
Support Level 2: 5870
Support Level 3: 5845
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
A Trend on Borrowed Time, A Micro ED within a Larger ED?Since mid-last month, the broader equity market has been grinding higher — but not with confidence.
The advance has been marked by choppy, overlapping price action that feels more hesitant than bullish. Yes, prices continue carving out higher highs and higher lows, but MACD momentum tells a different story. With every push upward, the MACD weakens, flashing warning signs beneath the surface. Taken through the lens of Elliott Wave theory, this unfolding pattern carries all the classic fingerprints of an Ending Diagonal — a structure that often signals a trend on borrowed time.
Key Characteristics of an Ending Diagonal:
1. Position in the Wave Structure:
A. Occurs in Wave 5 of an impulse wave or Wave C of a corrective pattern (such as a zigzag or flat).
B. Rarely, but sometimes, seen in Wave 3 of an impulse, but this is generally associated with a leading diagonal, not an ending one.
2. Structure:
A. Composed of five sub-waves, labeled (i), (ii), (iii), (iv), (v).
B. Each of these sub-waves subdivides into 3 waves (i.e., they are all corrective or "3-wave" structures, often labeled as a-b-c).
C. This gives the whole pattern a distinct 3-3-3-3-3 internal structure.
3. Price Behavior:
A. Overlapping waves: Wave 4 often overlaps with the price territory of Wave 1, which is normally a rule violation for standard impulsive structures — but it's allowed in an ending diagonal.
B. Converging trendlines: The upper and lower boundaries of the diagonal typically form converging lines (like a wedge), though they can also be parallel in some cases.
C. Diminishing momentum: Often accompanied by momentum divergence, meaning price makes a new high or low, but momentum indicators (MACD, RSI) do not confirm.
4. Implication:
A. An ending diagonal suggests the current trend is running out of steam.
B. Once complete, a sharp reversal or significant correction is expected.
In my analytical view, the byproduct of an Ending Diagonal often lures market participants into a conflicted state — cautious, yet unable to ignore the persistent upward grind. You’ve probably heard the old market adage: “Don’t fight the tape.” In this case, that mentality sets in as traders, wary but worn down, finally throw in the towel and join the advance — only for the market to seemingly punish that decision with a sharp reversal.
Many experienced traders describe their Ending Diagonal experience the same way: “The moment I finally stopped fighting the trend and got long, it was as if the market was waiting for me — and reversed hard.”
That is how I would describe this micro ED we appear to be in the final stages of what I’m counting as the micro wave v of (v) of Minor A.
For now, no key structural support levels within the Micro Ending Diagonal have been breached, so the advance can certainly stretch a little higher. But make no mistake — in my opinion, this remains one of the most dangerous, deceptive patterns to engage with.
Last week, I closed my short out-of-the-money ES call positions during the micro wave iv pullback (not shown on the above chart). Ideally, I’m looking for an opportunity to reestablish a similar position this week. From there I will reassess the larger Ending Diagonal pattern you see outlined on the chart above.
Us500:What is going to happen?hello friends👋
This time we are here with the analysis of us500, an important and vital index in the market that is being talked about a lot these days.
Well, let's go to the analysis, you will see that with the drop we had, a lower floor was made and the price was quickly supported and pumped by buyers.
Now it is clear that an ascending pattern has been formed, which is a very strong support in the specified area and a good buying point that you can enter into a transaction with capital and risk management.
Note that if the floor is broken and the stop loss is placed, our bullish pattern becomes invalid and we have to wait for lower floors.
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