S&P500 is about to turn bearish on its 4H technical outlook (RSI = 44.328, MACD = 3.600, ADX = 29.786) as it just crossed under its 4H MA50 for the first time since April 2nd. Also if today's 1D candle closes in red it will be the first 2day losing streak since March 27th. Technically we are on a strong HH rejection. All rejection at (or near) this trendline since November 12 2025, have kickstarted corrections that always touched the 1D MA50. The smallest of those declined by -3.00% while the strongest by -5.33%.
As such, a 'weak' scenario would test the 0.236 Fibonacci of this whole +14.00% rally (TP1 = 6,975) and a 'strong' scenario would test the 1D MA200 (TP2 = 6,810) between the 0.382 and 0.5 Fibonacci levels. All normal technical corrections after such a strong 1 month rise.
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As such, a 'weak' scenario would test the 0.236 Fibonacci of this whole +14.00% rally (TP1 = 6,975) and a 'strong' scenario would test the 1D MA200 (TP2 = 6,810) between the 0.382 and 0.5 Fibonacci levels. All normal technical corrections after such a strong 1 month rise.
See how our prior idea has worked out:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Telegram👉 t.me/investingscope
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.