Daily Price Outlook

- S&P 500 at $5235.47, down 0.06%, facing resistance at $5322.57 and support at $5200.92.

- RSI at 41, 50 EMA at $5208.72; bearish to neutral sentiment prevails.

- Recommended sell below $5260, with take profit at $5170 and stop loss at $5324.

The S&P 500 is currently priced at $5235.47, down 0.06%, reflecting a minor decline in market sentiment. The pivot point for today’s session is at $5257.78.

Immediate resistance levels are identified at $5322.57, $5370.18, and $5419.82. On the downside, immediate support is found at $5200.92, followed by $5149.35 and $5103.06.

The 50-day Exponential Moving Average (EMA) is currently at $5208.72, indicating a potential support level close to the current price. The Relative Strength Index (RSI) stands at 41, suggesting that the market is in a bearish to neutral territory.

These indicators imply that the S&P 500 might face further selling pressure unless there is a shift in market dynamics.

For traders looking to navigate the current market conditions, an entry price is recommended below $5260, with a take profit target set at $5170.

A stop loss should be placed at $5324 to manage risk effectively. In conclusion, the S&P 500 is experiencing slight downward pressure, with technical indicators suggesting a cautious outlook.

SPX Price Chart - Source: Tradingview
SPX Price Chart - Source: Tradingview

S&P500 (SPX) - Trade Ideas

Entry Price – Sell Below 5260

Take Profit – 5170

Stop Loss – 5324

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$900/ -$640

Profit & Loss Per Mini Lot = +$90/ -$64



24/7 live support, lightning fast withdrawals, guaranteed safe and reliable trading platforms with a true ECN broker.