S&P500 uptrend pause supported at 6355US equities were largely subdued, with the S&P 500 inching up +0.02%, marking its sixth straight record high, the longest streak since July 2023. Despite the headline gain, over 70% of S&P 500 stocks declined, revealing weak breadth and suggesting index gains are being driven by a narrow group of large-cap tech names.
Tech led the way, with the information technology sector +0.77% and the Mag-7 rising +0.79%.
Semiconductors outperformed, as the Philadelphia Semiconductor Index climbed +1.62%, driven by AMD’s +4.32% surge.
Momentum is building ahead of key Big Tech earnings: Microsoft and Meta report tomorrow; Apple and Amazon follow Thursday.
Meanwhile, traders are staying cautious ahead of a busy macro week:
FOMC decision (Wednesday),
Core PCE, Q2 GDP, ISM, and nonfarm payrolls still to come.
Geopolitical developments include a possible 90-day US-China trade truce extension and Taiwan cancelling overseas travel, which may help de-escalate tensions.
On the corporate front:
Apple's India strategy sees it surpass China as the top smartphone source for US buyers.
Harley-Davidson may sell its finance unit in a $5B deal with Pimco and KKR.
Vitol rewarded top staff with $10.6B in share buybacks—a record.
Conclusion for S&P 500 Trading
The S&P 500 continues to post record highs, but narrow leadership and weak breadth raise red flags. With tech doing the heavy lifting, near-term direction hinges on earnings from Microsoft, Meta, Apple, and Amazon. Broader market upside looks fragile ahead of critical Fed and economic data, suggesting that any disappointment could trigger a pullback. Stay cautious and watch for rotation or retracement if macro or earnings catalysts falter.
Key Support and Resistance Levels
Resistance Level 1: 6430
Resistance Level 2: 6470
Resistance Level 3: 6500
Support Level 1: 6355
Support Level 2: 6315
Support Level 3: 6280
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.
US500AUD trade ideas
Weekly Review: Forex fundamental analysis The week starting Monday 21 July was another week of positive sentiment, the S&P continues to hit all time highs and the VIX remains anchored below 17.
The upbeat mood was propelled by an announcement of a tariff deal between the US and Japan. The market now thinks it's likely deals with EUROPE and CHINA will soon follow. All the while, earnings season continues to quietly slip under the radar (it's worth noting the upcoming week does have a plethora of huge companies reporting).
An election in JAPAN caused uncertainty, giving the JPY a bout of strength at the beginning of the week. I then found it difficult to decide if the US / JAPAN trade deal would be positive or negative for the JPY, ultimately the overall positive risk tone prevailed and the JPY ended the week softly.
It was also a week of two halves for the USD, the interest rate battle between the president and chair Powell continues to cause uncertainty. The FOMC meeting and the upcoming slue of reg flag US data will be very interesting. And could determine the underlying bias for the USD for the rest of the summer.
The EUR and GBP were prominent throughout the week, a 'hawkish hold' from the ECB, combined with positive PMI data and hopes of a trade deal, all contributed to positive sentiment for the EUR.
On the opposite end of the scale, the GBP ended the week bruised, weakened by another bout of 'soft data'. Which opened the door to potential 'relative fundamental' GBP short trades.
Finally, 'fairly hawkish' comments from the RBA'S BULLOCK keeps the AUD high on my to long list.
On a personal note, it was a week of two trades. I perhaps was a little bold in thinking the JPY post election strength was overdone, entering an AUD JPY long which stopped out. You might often think it's frustrating when a trade stops out, but then eventually hits the original profit target. Personally, I take the positive view that at least my original bias was proved correct.
The week was saved on Friday with a EUR GBP long, post GBP retail sales data and trying to take advantage of the positive EUR sentiment.
*As I write, it appears a US /EUR tariff deal is very close, which backs up thoughts of 'risk on' trades to begin the new week.
Trade 1: AUD JPY -1
Trade 2: EUR GBP +1.5
Total = +0.5%
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Third quarter and something we didn’t expectso I’ve been watching the markets for a while and honestly this new admin is doing something that many didn’t saw coming.
it's not even a full year yet, we’re still on Q3, but the impact on the economy is starting to show. what really gets my attention is the tariff collection, it’s been really high and from what I see it’s even generating some kind of surplus in certain areas.
at first I thought this was going to slow down the market or create pressure, but the opposite happened, the stock market has been hitting all time highs, especially in tech and defense sectors.
inflation didn’t spike like people was saying, that calmed down many investors and the flow of money is pretty obvious.
i’m not an expert or nothing but this first months looks like there’s a real direction and the money is moving in a positive way. still need to see how this year closes but if it stays like this, could be one of the strongest starts for a president in a long time.
just wanted to share my thoughts, what you guys think?
US500 - Can S&P Pass Critical Ratio / Liquidity ZoneS&P (Pepperstone CFD)
Price has popped above the 1.618 extension, which is a key ratio zone.
A bearish whipsaw in this area could be dangerous.
However, if price continues to push through this level, it signals that S&P is entering a very bullish phase.
The area above prior ATH resistance holds high liquidity.
If price moves beyond this ratio band, it will signal that a reversal in this zone is unlikely.
That said, if it’s still in this band when Trump tariffs are reinstated potentially on 1 August, then this is looking dangerous 🧐.
(Fib trendlines lower in the chart).
This analysis is shared for educational purposes only and does not constitute financial advice. Please conduct your own research before making any trading decisions.
Before the perma-bulls go bonkers… Before the perma-bulls go bonkers… no, I’m not calling for a crash or bear market (yet).
But longer this bull runs, greater the odds of mean reversion.
Further we drift from 2009 without tagging the 300-month MA, more likely a sideways decade begins.
This will happen again.
You can't say we are "early" in the bull market. That simply is not true. Early is in the few years after the 2009 retouch of that very long term moving average. Can the indices still go up? Of course. But understand where you are in the cycle.
S&P500 push to new ATH? Key Developments:
AI Drives Earnings Momentum
Alphabet reported strong results, but flagged surging AI infrastructure costs, signaling increased capex ahead.
SK Hynix posted record earnings and committed to expanding AI-related investments, reinforcing the sector’s critical growth role.
Investor sentiment remains AI-positive, with capital rotation favoring tech and semiconductors despite margin compression risks.
Banking Sector Boosted by Tariff-Driven Volatility
Deutsche Bank’s FIC (Fixed Income & Currencies) trading revenue jumped 11% to €2.28B, its best Q2 since 2007, aided by global trade uncertainty.
BNP Paribas also beat earnings estimates, continuing the strong showing from European banks amid market volatility.
Trade & Tariff Watch
The EU and US are nearing a deal on a 15% standard tariff rate, potentially stabilizing trade flows and market pricing.
Trump’s broader reciprocal tariff push remains in focus, especially after the US-Japan deal. Investors are watching for signs of escalation or resolution with other partners like the EU and Canada.
Fed in the Political Spotlight
Trump visited the Fed’s construction site, criticizing costs and maintaining pressure on Chair Jerome Powell.
Speculation about Fed leadership changes and political interference is unsettling, though markets have largely shrugged this off for now.
Meanwhile, House Republicans are drafting a follow-up tax-and-spending plan, which could shape future fiscal policy and market expectations.
Conclusion: S&P 500 Trading Outlook
The S&P 500 remains buoyed by strong earnings, particularly from AI-linked sectors and financials, while geopolitical risks and tariff volatility are being absorbed as catalysts for trading profits rather than panic.
Bullish factors: Strong corporate earnings (Alphabet, SK Hynix, Deutsche Bank), potential trade de-escalation (EU-US tariff deal), and AI momentum.
Risks to monitor: Rising AI capex (impact on margins), political tension around the Fed, and tariff uncertainty.
Key Support and Resistance Levels
Resistance Level 1: 6387
Resistance Level 2: 6457
Resistance Level 3: 6502
Support Level 1: 6272
Support Level 2: 6224
Support Level 3: 6156
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.
ECB on the agenda: The ECB is on the agenda today. I don't envision a particularly volatile event, although a continuation of the 'limited further cuts narrative' should see the EUR supported, particularly given growing thoughts of a US / EUR trade deal.
All in all, with the S&P still climbing, I continue to hold the view that 'risk on' trades are viable, especially since the announcement of the US / JAPAN trade deal. It's just a case of choosing whether to short the JPY or USD.
In other news, 'soft' SERVICE PMI data from the UK puts a little more pressure on the BOE to cut rates, arguably creating a GBP short 'catalyst' trade for anyone at the charts in that moment.
Also, a relatively hawkish speech from the RBA'S BULLOCK, keeps the AUD high on my 'to long list'.
Do you want to keep buying SP500?Hello all. I usually love to work analyzing volumes, times and key level, i am not used to check the standard indicators, but this time i'll made an exception. Lot of indicators (AO, MACD, RSI, OBV) are showing weakness on higher timeframe with a strong bearish divergence (like the one i am sharing now on AO). On smaller timeframe i usually ignore this signals, because they can result in a little retrace, but on higher timeframe like this one can be a strong reversal indicator. But this is not the only things that let me open this position. Going deeper into my analysis, i have a first key level at $6270. Once we will break below this level, i'll open my first sell order with a stoploss a little higher than ATH. If price will break below my second key level at $6120 i'll open my second short order. My main and final target is $5300 (around -16% from now) but i will consider to secure profits before this level. I'll update you guys, and let me know if you are agree with me or not. Cheers
Well...... I have no words to say, lets see what happens now. The Last Breath of Bulls
They came with horns of thunder,
hooves pounding gold from earth,
a decade’s dance in roaring winds,
each sunrise glinting mirth.
They charged through fields of candlesticks,
green banners held aloft,
dreams stacked on dreams, layer by layer,
voices rising, soft to rough.
But markets tire as all beasts do,
the grass runs dry and thin,
greed’s fattened calves now restless,
as silence crowds the din.
A tremor in the trading halls,
screens blinking red, then grey,
the bulls look up at iron clouds,
no dawn in this new day.
They stand, bewildered, heavy,
in fields now tinged with frost,
the horns that once carved futures bright,
bowed under the cost.
The end comes not with fury,
but a quiet pulling thread,
the bullish songs that once were sung,
now whispers of the dead.
Yet even as the bulls lie down,
the soil still holds the sun,
for from the hush of fallen hooves,
new seasons will be spun.
SPX500 Near ATH | Earnings Week Could Fuel Next MoveSPX500 | Weekly Outlook
The S&P 500 continues its bullish run, trading at record highs as investors await a critical week of tech earnings. Reports from Alphabet and Tesla could be key in justifying the lofty valuations driven by the AI boom.
Technical Outlook:
The price is expected to consolidate between 6341 and 6283 before any decisive move. A short-term bearish correction may occur initially, but if the price holds above the support zone, a push toward a new ATH at 6341 is likely. A breakout above this level could extend gains toward 6375 and 6393.
However, a break below 6283 would indicate weakness, potentially driving the price toward the demand zone near 6250 and 6224.
Support: 6283 · 6250 · 6224
Resistance: 6341 · 6375 · 6393
Market Breadth Flashes Warning, but S&P 500 Still Holds SteadyThe S&P 500 continues its slightly positive movement. However, the momentum has been slowing, forming a long, wedge-like pattern. These long wedges have been a recurring feature in the stock market for years. From the monthly timeframe to the 1-hour chart, the market often forms wedges.
Wedge formations tend to break to the downside but can persist for a long time before doing so. The S&P 500 typically makes a sharp correction selloff, then recovers in a "V" shape, followed by the formation of another wedge. This pattern appears to be repeating once again. Still, there are some negative signals that traders should be aware of:
1- The impact of tariffs on growth remains a major unknown. Most tariff deals have not been finalized yet. While the Japan agreement is a positive step, negotiations with the EU will be more significant.
2- Many earnings reports will be released in the coming weeks, potentially shaping market sentiment. These earnings will reflect some of the tariff effects. AI and tech remain the key market drivers, so their results will be especially important.
3- Some breadth indicators are showing early warning signs. One of the most useful is the "percentage of stocks above the 200-day moving average." This metric shows whether the market is broadly participating in the rally or being driven by a few large-cap names. Typically, when the market weakens, traders rotate into mega caps. The rounded numbers below shows the weakness:
March 2024 Top: 5250 - Percantege Above 200 MA: 85%
July 2024 Top: 5675 - Percantege Above 200 MA: 80%
December 2024 Top: 6100 - Percantege Above 200 MA: 74%
July 2025 Current: 6309 - Percantege Above 200 MA: 66%
This shows that fewer and fewer stocks are managing to stay above their 200-day moving average while S&P making new highs. This is not an immediate red flag, but the weakening is apparent.
In summary, the slightly positive outlook remains intact for now and is expected to continue until the wedge breaks with some early warning signs. If that happens, a sharp selloff may follow, creating both selling and buying opportunities. In the short term, 6280 is the immediate support level to watch.
People don't like the truth! Let's be honest, people don't like honesty. They prefer ideas that affirm their own beliefs.
When I read articles and posts from newer traders, it's often from a place of "all in" diamond hands and the notion that things go up forever.
I've been a trader for over 25 years now, and the game isn't about making a quick buck, it's about making money over and over again. This got me thinking, the issue is when you deal with a small account you require leverage, small timeframes and of course the "shit" or bust mindset. If you lose a thousand dollars, $10,000 even $100,000 - what does it matter? That's no different than a game of poker in Vegas.
The idea of being 80% in drawdown, is alien to me. The idea of one trade and one win is also a crazy notion.
Instead of playing with the future, there is an easier way to work. This isn't about slow and boring, it's about psychology and discipline. 10% returns on a million-dollar account isn't all that difficult. Instead of aiming for 300x returns on an alt coin (due to the account size being tiny) You can make less of a percentage gain with a larger account size.
In terms of psychology - the word " HOPE " is used, way too often, it's used when you hope a stock or the price of Bitcoin goes up, it's used when you hope the position comes back in your favour, it's used when you want your 10,000 bucks to double.
This isn't trading, it's gambling.
The truth is, it's not the winners that make you a good trader. It's the way you deal with the losses.
Once you learn proper risk management, a downtrend in a market move is a 1-2% loss coupled with a new opportunity to reverse the bias.
As a disciplined trader, the game is played differently.
Let's assume you don't have $100k spare - prop firms are a great option, OPM = other people's money.
Remove the risk and increase the leverage, all whilst trading with discipline.
The market goes through many phases, cycles and crashes.
You don't always need something as catastrophic to take place, but if you are all in on a position. You need to understand that losses can be severe and long-lasting.
When everyone sees an oasis in the desert, it's often a mirage.
You only have to look at the Japanese lesson in 1989, when the Nikkei was unstoppable-until it wasn't. For that short space in time, everyone was a day trader, housewives to taxi drivers.
Everyone's a genius in a Bull market.
Then comes the crash. The recovery time on that crash?
34-years!!!
I have covered several aspects of psychology here on TradingView;
When it comes to trading, if you are able to keep playing. It's a worthwhile game. If you are gambling, it's a game whereby the house often wins.
Right now, stocks are worth more than their earnings. Gold is up near all-time highs, crypto, indices the same.
All I am saying is if you are all in. Be careful!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principal trader has over 25 years' experience in stocks, ETF's, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.