S&P 500 Will Correct to Pivot 6010 and THEN!

S&P 500 (SPX500) Analysis – February 26, 2025
The S&P 500 remains in a bearish structure, trading below the pivot zone (6010-6031), which previously acted as support but has now turned into a resistance level. The price is currently attempting a correction toward 6010, but unless it stabilizes above this level, the bearish trend is expected to resume.

Technical Outlook:
🔻 Bearish Scenario: As long as SPX500 remains below 6010, downward momentum is likely to persist, targeting 5966 as the next support level. A 4H or 1H candle close below 5966 will further confirm a decline toward 5920 as the next bearish target.

🔹 Bullish Reversal: A sustained move above 6010 could indicate a shift in momentum, with potential upside targets at 6069 and 6102.

🔄 Correction Phase: The price is currently attempting to retest the pivot line (6010) from 5979 before confirming the next trend direction.

⚠️ Market Impact: The market remains highly volatile due to concerns over U.S. tariff policies, impacting investor sentiment. Growing geopolitical tensions and trade restrictions are adding pressure on equities, reinforcing the bearish outlook.

Key Levels to Watch:
🔸 Resistance: 6010 | 6031 | 6069
🔹 Pivot Zone: 5979
🔻 Support: 5966 | 5920 | 5879

📉 Directional Bias: Bearish below 6010 – A confirmed breakdown below 5971 would strengthen downside momentum.