Daily Price Outlook

- SPX trades at $5352.95, down slightly by 0.02%, with a pivot point at $5392.00.

- Immediate resistance levels are $5430.80, $5473.04, and higher, with support at $5335.97, $5290.28, and $5247.18.

- RSI at 64.00 and 50-Day EMA at $5255.08 indicate a bullish trend, key for today's trading strategy.

The SPX is currently trading at $5352.95, reflecting a minor decrease of 0.02%. Today's pivot point is positioned at $5392.00, a critical marker for determining market direction. Immediate resistance levels are set at $5430.80, $5473.04, and further up at $5516.00. On the support side, immediate levels are noted at $5335.97, followed by $5290.28 and $5247.18.

The Relative Strength Index (RSI) is at 64.00, indicating a moderately strong buying interest without yet reaching overbought conditions. The 50-Day Exponential Moving Average (EMA) is currently at $5255.08, offering a supportive base that aligns with the prevailing market trend, suggesting a continuation of the bullish outlook.

Given the current technical setup and key price levels, the outlook for the SPX remains bullish above the pivot point of $5392.00. Traders might consider entering a buy position above $5336, targeting a take profit level of $5390 with a stop loss set at $5290. This strategy provides a balanced approach to risk management, aligning with the broader market sentiment.

S&P 500 Price Chart - Source: Tradingview
S&P 500 Price Chart - Source: Tradingview

S&P 500 - Trade Ideas

Entry Price – Buy Above 5336

Take Profit – 5390

Stop Loss – 5290

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$5400/ -$4600

Profit & Loss Per Mini Lot = +$540/ -$460



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