S&P 500 Index
Short

SPX500 Price Action Hinges on 6918 Pivot

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SPX500 | Market Outlook

U.S. stock futures opened notably higher on Friday, the first trading day of 2026, after Wall Street recorded a third consecutive year of gains in 2025. Markets navigated tariff disputes, the longest government shutdown in U.S. history, geopolitical tensions, and concerns over central bank independence.

Investors are now focused on next week’s U.S. payrolls report for labor-market signals, while attention remains on the Federal Reserve. Speculation has increased after reports that Donald Trump is expected to name Jerome Powell’s successor early this year, raising expectations of a potentially more dovish policy shift.

TECHNICAL VIEW (SPX500)

The index is showing signs of a corrective move toward 6918.
While trading below 6918, bearish momentum is expected to resume
A rejection from 6918 would support downside pressure toward 6880, followed by 6866 and 6813

Alternatively:
A 4H candle close above 6918 would invalidate the bearish bias and signal bullish momentum toward 6946 and 6990

Key Levels
Pivot Line: 6918
Support: 6880 – 6866 – 6813
Resistance: 6946 – 6990

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