Several of this website’s blogs have noted the S&P 500 (SPX) had potentially significant Fibonacci resistance at 6,958.48. On 01/07/26 SPX peaked at 6,965.69.
The 30- minute SPX chart courtesy of Trading View updates the action.
The presumed Elliott wave – Ending Diagonal Triangle from the 11/21/25 bottom could be complete. The 30 – minute RSI bearish divergence at the 01/07/26 SPX peak supports this theory.
However, fifth waves of Ending Diagonal Triangles typically have a brief throwover of the trendline connecting the third and fifth waves. In this case the presumed Minute wave [v] has peaked below the trendline.
At 8:30 AM – EST on 01/09/26 the monthly U.S. Non-Farm Payroll report is released. It’s possible this data could trigger a rally above the trendline.
A move below the 01/02/26 bottom at 6,824.31 could be a very bearish signal.
Four Dimension Trading 