S&P500 uptrend pause supported at 6355US equities were largely subdued, with the S&P 500 inching up +0.02%, marking its sixth straight record high, the longest streak since July 2023. Despite the headline gain, over 70% of S&P 500 stocks declined, revealing weak breadth and suggesting index gains are being driven by a narrow group of large-cap tech names.
Tech led the way, with the information technology sector +0.77% and the Mag-7 rising +0.79%.
Semiconductors outperformed, as the Philadelphia Semiconductor Index climbed +1.62%, driven by AMD’s +4.32% surge.
Momentum is building ahead of key Big Tech earnings: Microsoft and Meta report tomorrow; Apple and Amazon follow Thursday.
Meanwhile, traders are staying cautious ahead of a busy macro week:
FOMC decision (Wednesday),
Core PCE, Q2 GDP, ISM, and nonfarm payrolls still to come.
Geopolitical developments include a possible 90-day US-China trade truce extension and Taiwan cancelling overseas travel, which may help de-escalate tensions.
On the corporate front:
Apple's India strategy sees it surpass China as the top smartphone source for US buyers.
Harley-Davidson may sell its finance unit in a $5B deal with Pimco and KKR.
Vitol rewarded top staff with $10.6B in share buybacks—a record.
Conclusion for S&P 500 Trading
The S&P 500 continues to post record highs, but narrow leadership and weak breadth raise red flags. With tech doing the heavy lifting, near-term direction hinges on earnings from Microsoft, Meta, Apple, and Amazon. Broader market upside looks fragile ahead of critical Fed and economic data, suggesting that any disappointment could trigger a pullback. Stay cautious and watch for rotation or retracement if macro or earnings catalysts falter.
Key Support and Resistance Levels
Resistance Level 1: 6430
Resistance Level 2: 6470
Resistance Level 3: 6500
Support Level 1: 6355
Support Level 2: 6315
Support Level 3: 6280
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
US500 trade ideas
Weekly Review: Forex fundamental analysis The week starting Monday 21 July was another week of positive sentiment, the S&P continues to hit all time highs and the VIX remains anchored below 17.
The upbeat mood was propelled by an announcement of a tariff deal between the US and Japan. The market now thinks it's likely deals with EUROPE and CHINA will soon follow. All the while, earnings season continues to quietly slip under the radar (it's worth noting the upcoming week does have a plethora of huge companies reporting).
An election in JAPAN caused uncertainty, giving the JPY a bout of strength at the beginning of the week. I then found it difficult to decide if the US / JAPAN trade deal would be positive or negative for the JPY, ultimately the overall positive risk tone prevailed and the JPY ended the week softly.
It was also a week of two halves for the USD, the interest rate battle between the president and chair Powell continues to cause uncertainty. The FOMC meeting and the upcoming slue of reg flag US data will be very interesting. And could determine the underlying bias for the USD for the rest of the summer.
The EUR and GBP were prominent throughout the week, a 'hawkish hold' from the ECB, combined with positive PMI data and hopes of a trade deal, all contributed to positive sentiment for the EUR.
On the opposite end of the scale, the GBP ended the week bruised, weakened by another bout of 'soft data'. Which opened the door to potential 'relative fundamental' GBP short trades.
Finally, 'fairly hawkish' comments from the RBA'S BULLOCK keeps the AUD high on my to long list.
On a personal note, it was a week of two trades. I perhaps was a little bold in thinking the JPY post election strength was overdone, entering an AUD JPY long which stopped out. You might often think it's frustrating when a trade stops out, but then eventually hits the original profit target. Personally, I take the positive view that at least my original bias was proved correct.
The week was saved on Friday with a EUR GBP long, post GBP retail sales data and trying to take advantage of the positive EUR sentiment.
*As I write, it appears a US /EUR tariff deal is very close, which backs up thoughts of 'risk on' trades to begin the new week.
Trade 1: AUD JPY -1
Trade 2: EUR GBP +1.5
Total = +0.5%
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Third quarter and something we didn’t expectso I’ve been watching the markets for a while and honestly this new admin is doing something that many didn’t saw coming.
it's not even a full year yet, we’re still on Q3, but the impact on the economy is starting to show. what really gets my attention is the tariff collection, it’s been really high and from what I see it’s even generating some kind of surplus in certain areas.
at first I thought this was going to slow down the market or create pressure, but the opposite happened, the stock market has been hitting all time highs, especially in tech and defense sectors.
inflation didn’t spike like people was saying, that calmed down many investors and the flow of money is pretty obvious.
i’m not an expert or nothing but this first months looks like there’s a real direction and the money is moving in a positive way. still need to see how this year closes but if it stays like this, could be one of the strongest starts for a president in a long time.
just wanted to share my thoughts, what you guys think?
FUNDAMENTALS: THE WEEK OF TRUTH IS COMING!This is a high-stakes, high-pressure week for markets as the final days of July approach. Between Wednesday, July 30, and Friday, August 1, all the market-moving fundamentals are concentrated in a three-day window. It’s a stress test for the U.S. equity market: either it extends its bullish trend, or it enters a much-needed consolidation phase.
Three days. No more. Catalysts are so tightly packed they could shake even the steadiest traders. We’re looking at a full-spectrum stress test—monetary, economic, and geopolitical. Why so crucial? Because every major macro driver is converging in an ultra-condensed timeframe: the trade deal deadline with U.S. partners, the Fed’s policy decision, GAFAM earnings, PCE inflation, the NFP jobs report, Q2 GDP figures, and key technical barometers—all as we enter the seasonally weaker August-September period.
1) Wednesday, July 30 – The Monetary Moment of Truth
The week opens with a critical event: the Fed’s monetary policy meeting. It’s not just about rates, but forward guidance. The market stands at a crossroads. Either the Fed signals a dovish pivot for late 2025, and risk appetite returns—or it delays action, and the S&P 500, already stretched (Shiller PE Ratio back to end-2021 levels), enters a correction.
At the same time, GAFAM kick off their earnings season. U.S. tech remains the market’s beating heart. If these giants disappoint, the sector will drag down the entire market. Remember, tech accounts for 35% of the S&P 500’s weight.
2) Thursday, July 31 – PCE Inflation Decides the Direction
Next up is the Fed’s preferred inflation metric: core PCE. A critical indicator. If inflation ticks up, the autumn rate-cut narrative falls apart. Add in the second estimate of Q2 GDP and earnings from the next GAFAM batch, and Thursday becomes a pivotal day for the S&P 500. The key question: will core PCE inflation rebound, possibly influenced by tariff impacts?
3) Friday, August 1 – The Verdict: NFP and Trade Talks
NFP jobs report + trade negotiation deadline = explosive combo. By Friday, markets will have priced in the Fed, inflation, and earnings. What’s left? U.S. labor. Weak numbers could revive recession fears. Strong ones might push back the Fed’s easing timeline.
Also on the radar: trade talks. The August 1 deadline could spike volatility. And let’s not forget the China-specific deadline on Tuesday, August 12.
Conclusion: No Room for “TACO”
There’s no margin for error. No room for “TACO” (Trump Always Chickens Out). This market must deliver across the board—or the current overvaluation will be left with no safety net. The July 30 week is a true fundamental stress test. And the consequences will be swift.
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Can the S&P 500's Ascent Continue?The S&P 500 recently achieved unprecedented highs, reflecting a multifaceted market surge. This remarkable performance stems primarily from a robust corporate earnings season. A significant majority of S&P 500 companies surpassed earnings expectations, indicating strong underlying financial health. The Communication Services and Information Technology sectors, in particular, demonstrated impressive growth, reinforcing investor confidence in the broader market's strength.
Geopolitical and geostrategic developments have also played a crucial role in bolstering market sentiment. Recent "massive" trade agreements, notably with Japan and a framework deal with Indonesia, have introduced greater predictability and positive economic exchanges. These deals, characterized by reciprocal tariffs and substantial investment commitments, have eased global trade tensions and fostered a more stable international economic environment, directly contributing to market optimism. Ongoing progress in trade discussions with the European Union further supports this positive trend.
Furthermore, resilient macroeconomic indicators underscore the market's upward trajectory. Despite a recent dip in existing home sales, key data points like stable interest rates, decreasing unemployment claims, and a rising manufacturing PMI collectively suggest an enduring economic strength. While technology and high-tech sectors, driven by AI advancements and strong earnings from industry leaders like Alphabet, remain primary growth engines, some segments, such as auto-related chipmakers, face challenges.
The S&P 500's climb is a testament to the powerful confluence of strong corporate performance, favorable geopolitical shifts, and a resilient economic backdrop. While the immediate rally wasn't directly driven by recent cybersecurity events, scientific breakthroughs, or patent analyses, these factors remain critical for long-term market stability and innovation. Investors continue to monitor these evolving dynamics to gauge the sustainability of the current market momentum.
Quarterly Candle AnalysisQuarterly candle data going back to 1928 was exported and analyzed in Excel .
The purpose of doing so was to identify candles comparable to the candle we had in Q2 of 2025 (last quarter) in terms of scale and form.
Two properties of the candles were considered:
1. Candle Length as a % of Close (Column L)
2. Lower Wick as a % of Close minus Upper Wick as a % of Close (Column R)
The product of these properties (Column S) was considered as the primary quantitative metric for this analysis.
The two quarters determined to be most similar based on having green candles with forms similar to Q2 2025 were as follows:
Q4 1998
Q1 2016
Both quarters were followed by at least 4 more bullish quarters, hence, the result of this analysis is bullish, as should be expected with such a bullish candle.
S&P500 This is why every CORRECTION is a GIFT.The S&P500 index (SPX) has been steadily rising since the April bottom to new All Time Highs (ATH). On the grand 100 year scale, the February - March tariff fueled correction, has been nothing significant. The last true technical correction has been the 2022 Inflation Crisis because it touched, and instantly rebounded on, the 1M MA50 (blue trend-line).
This is not the first time we bring forward our multi-decade perspective on stock and in particular this chart. But it serves well, keeping us into the meaningful long-term outlook of the market. This suggests that since the Great Depression and the first signs of recovery after the 1935 - 1941 Bear Cycle, the market has entered a multi-decade Channel Up, which is divided into long-term aggressive expansion periods (Bull Cycles) and shorter term depressions (Bear Cycles).
During a Bull Cycle, every test of the 1M MA50 is a instant cyclical buy opportunity and in fact that isn't presented very often. During a Bear Cycle, the market makes an initial aggressive correction below the 1M MA50, turns increasingly volatile for 5-7 years, trading sideways within the Channel Up with its second peak resulting into a 2nd correction that eventually breaks below the 1M MA200 (orange trend-line).
That is what we call a 'generational buy opportunity' as in the past 80 years, it has only been taken place 2 times.
Right now (again this is not something we mention for the first time), the market is at the start of the A.I. Bubble, with incredibly strong similarities with the Internet Bubble of the 1990s.
In fact, relative to the Internet Bubble, it appears that we are on a stage similar to 1993 - 1994, before the market turned parabolic to the eventual Dotcom Bust of 2000.
As a result, from a technical perspective, every 'small' correction such as the one we had this year, is a blessing in disguise (buy opportunity). As the index grew by 5 times during the Internet Bubble (300 to 1500), it is also very possible to see it approach this feat going from roughly 3500 (late 2022) to 14000 (by late 2032) and touch the top of the multi-decade Channel Up.
Are you willing to miss out on this generational wealth creation opportunity?
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US500 - Can S&P Pass Critical Ratio / Liquidity ZoneS&P (Pepperstone CFD)
Price has popped above the 1.618 extension, which is a key ratio zone.
A bearish whipsaw in this area could be dangerous.
However, if price continues to push through this level, it signals that S&P is entering a very bullish phase.
The area above prior ATH resistance holds high liquidity.
If price moves beyond this ratio band, it will signal that a reversal in this zone is unlikely.
That said, if it’s still in this band when Trump tariffs are reinstated potentially on 1 August, then this is looking dangerous 🧐.
(Fib trendlines lower in the chart).
This analysis is shared for educational purposes only and does not constitute financial advice. Please conduct your own research before making any trading decisions.
Before the perma-bulls go bonkers… Before the perma-bulls go bonkers… no, I’m not calling for a crash or bear market (yet).
But longer this bull runs, greater the odds of mean reversion.
Further we drift from 2009 without tagging the 300-month MA, more likely a sideways decade begins.
This will happen again.
You can't say we are "early" in the bull market. That simply is not true. Early is in the few years after the 2009 retouch of that very long term moving average. Can the indices still go up? Of course. But understand where you are in the cycle.
S&P500 push to new ATH? Key Developments:
AI Drives Earnings Momentum
Alphabet reported strong results, but flagged surging AI infrastructure costs, signaling increased capex ahead.
SK Hynix posted record earnings and committed to expanding AI-related investments, reinforcing the sector’s critical growth role.
Investor sentiment remains AI-positive, with capital rotation favoring tech and semiconductors despite margin compression risks.
Banking Sector Boosted by Tariff-Driven Volatility
Deutsche Bank’s FIC (Fixed Income & Currencies) trading revenue jumped 11% to €2.28B, its best Q2 since 2007, aided by global trade uncertainty.
BNP Paribas also beat earnings estimates, continuing the strong showing from European banks amid market volatility.
Trade & Tariff Watch
The EU and US are nearing a deal on a 15% standard tariff rate, potentially stabilizing trade flows and market pricing.
Trump’s broader reciprocal tariff push remains in focus, especially after the US-Japan deal. Investors are watching for signs of escalation or resolution with other partners like the EU and Canada.
Fed in the Political Spotlight
Trump visited the Fed’s construction site, criticizing costs and maintaining pressure on Chair Jerome Powell.
Speculation about Fed leadership changes and political interference is unsettling, though markets have largely shrugged this off for now.
Meanwhile, House Republicans are drafting a follow-up tax-and-spending plan, which could shape future fiscal policy and market expectations.
Conclusion: S&P 500 Trading Outlook
The S&P 500 remains buoyed by strong earnings, particularly from AI-linked sectors and financials, while geopolitical risks and tariff volatility are being absorbed as catalysts for trading profits rather than panic.
Bullish factors: Strong corporate earnings (Alphabet, SK Hynix, Deutsche Bank), potential trade de-escalation (EU-US tariff deal), and AI momentum.
Risks to monitor: Rising AI capex (impact on margins), political tension around the Fed, and tariff uncertainty.
Key Support and Resistance Levels
Resistance Level 1: 6387
Resistance Level 2: 6457
Resistance Level 3: 6502
Support Level 1: 6272
Support Level 2: 6224
Support Level 3: 6156
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
ECB on the agenda: The ECB is on the agenda today. I don't envision a particularly volatile event, although a continuation of the 'limited further cuts narrative' should see the EUR supported, particularly given growing thoughts of a US / EUR trade deal.
All in all, with the S&P still climbing, I continue to hold the view that 'risk on' trades are viable, especially since the announcement of the US / JAPAN trade deal. It's just a case of choosing whether to short the JPY or USD.
In other news, 'soft' SERVICE PMI data from the UK puts a little more pressure on the BOE to cut rates, arguably creating a GBP short 'catalyst' trade for anyone at the charts in that moment.
Also, a relatively hawkish speech from the RBA'S BULLOCK, keeps the AUD high on my 'to long list'.
Do you want to keep buying SP500?Hello all. I usually love to work analyzing volumes, times and key level, i am not used to check the standard indicators, but this time i'll made an exception. Lot of indicators (AO, MACD, RSI, OBV) are showing weakness on higher timeframe with a strong bearish divergence (like the one i am sharing now on AO). On smaller timeframe i usually ignore this signals, because they can result in a little retrace, but on higher timeframe like this one can be a strong reversal indicator. But this is not the only things that let me open this position. Going deeper into my analysis, i have a first key level at $6270. Once we will break below this level, i'll open my first sell order with a stoploss a little higher than ATH. If price will break below my second key level at $6120 i'll open my second short order. My main and final target is $5300 (around -16% from now) but i will consider to secure profits before this level. I'll update you guys, and let me know if you are agree with me or not. Cheers
Well...... I have no words to say, lets see what happens now. The Last Breath of Bulls
They came with horns of thunder,
hooves pounding gold from earth,
a decade’s dance in roaring winds,
each sunrise glinting mirth.
They charged through fields of candlesticks,
green banners held aloft,
dreams stacked on dreams, layer by layer,
voices rising, soft to rough.
But markets tire as all beasts do,
the grass runs dry and thin,
greed’s fattened calves now restless,
as silence crowds the din.
A tremor in the trading halls,
screens blinking red, then grey,
the bulls look up at iron clouds,
no dawn in this new day.
They stand, bewildered, heavy,
in fields now tinged with frost,
the horns that once carved futures bright,
bowed under the cost.
The end comes not with fury,
but a quiet pulling thread,
the bullish songs that once were sung,
now whispers of the dead.
Yet even as the bulls lie down,
the soil still holds the sun,
for from the hush of fallen hooves,
new seasons will be spun.
SPX500 Near ATH | Earnings Week Could Fuel Next MoveSPX500 | Weekly Outlook
The S&P 500 continues its bullish run, trading at record highs as investors await a critical week of tech earnings. Reports from Alphabet and Tesla could be key in justifying the lofty valuations driven by the AI boom.
Technical Outlook:
The price is expected to consolidate between 6341 and 6283 before any decisive move. A short-term bearish correction may occur initially, but if the price holds above the support zone, a push toward a new ATH at 6341 is likely. A breakout above this level could extend gains toward 6375 and 6393.
However, a break below 6283 would indicate weakness, potentially driving the price toward the demand zone near 6250 and 6224.
Support: 6283 · 6250 · 6224
Resistance: 6341 · 6375 · 6393