Pushing Towards the Trendline?

The S&P 500 (SPX) all-time high on 07/15/25 invalidated the potential Lunar signal made at the 07/10/25 Full Moon.  The rising long – term SPX trendline could still be an important resistance area.

The daily SPX chart courtesy of Trading View updates the action.

If in the next few trading days, the SPX reaches a new all-time high it may hit or come very close to the long-term trendline connecting the January 2022 and February 2025 peaks. 

Watch daily RSI which had a bearish divergence at the SPX 07/15/25 peak.

Also watch the Nasdaq Composite.  If SPX makes a new all-time high unaccompanied by the Nasdaq Composite, it increases the chance of a significant peak developing.

The long term trendline is currently in the mid 6,340 area.

Important support is the weekly SPX bottom at 6,201.00, the low on 07/16/25 was 6,201.59.

Published by Mark Rivest

Independent investment advisor, trader, and writer. Articles have appeared on Technical Analysis of Stocks and Commodities , Traders.com Advantage, Futuresmag.com, and Finance Magnates.

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