The U.S. attack on the Iranian nuclear facility was HUGE news. Presumably the escalation of violence in the middle east could trigger a large global stock decline. It did not. The S&P 500 (SPX) opened the 06/23/25 session above the 06/20/25 session close, then rallied for 50 – minutes. During the subsequent decline SPX went marginally below its 06/20/25 bottom. Then the bulls began a strong rally.
The 30 – minute SPX courtesy of Trading View illustrates the action.
SPX has broken above a declining wedge.
The 30 – minute RSI had significant bullish divergences.
The SPX 06/11/25 to 06/23/25 move appears to be a complex Elliott wave – Zigzag correction.
The daily SPX chart courtesy of BigCharts.com examines daily momentum.
BigCharts.com Slow Stochastic is very effective at signaling turns. Daily Slow Stochastic has a bullish line cross. Please note that only one of the lines reached the oversold zone which begins at 20.00.
There’s a good chance for an SPX multi-day rally that could exceed the all-time high made on 02/19/25.
Four Dimension Trading 