The S&P 500 holds its +40 slightly bullish ranking this week after a stretch of price action that ultimately went nowhere despite a fast start. Monday’s gap was the confirmation bulls needed, and the market ran cleanly into the 6,900 resistance zone by Wednesday before Thursday’s tech-driven selloff pulled the rest of the market to its knees. By Friday’s close, the entire week had looped back to last week’s levels, giving us a true Groundhog Day finish despite all the volatility in between.

The S&P 500 has been downgraded ten points to +40, reflecting the continuation of selling pressure that deepened this week’s pullback into a full standard retracement. What began as a bull flag has evolved into a test of the final shelf of support at the 6,700–6,720 zone, where the daily 50-SMA aligns with the weekly 9-EMA. Despite the drawdown, structure remains technically valid (barely) leaving the market’s bullish footing intact for now, yet fragile as traders weigh headline risk and shifting sentiment.

The market paused this week as traders absorbed a flood of earnings, a Fed meeting, and the Trump–Xi trade truce, a trifecta that left the backdrop mixed but intact. The S&P 500 held its breakout structure and is working a shallow flag at the 9 EMA after last week’s push through 6,800. We are maintaining the S&P 500 ranking at +30, reflecting a slightly bullish bias and a valid trend that is consolidating recent gains.

We’re upgrading the S&P 500 five points to +30, maintaining the +1 slightly bullish bias. The index broke through the 6,800 ceiling this week, confirming a clean breakout from its multi-week high-base pattern and reasserting bullish control across timeframes. Structure has shifted from range-bound development to confirmed continuation, marking the strongest technical improvement since early September. If not for next week’s murderers’ row of macro catalysts (MAG 7 earnings, the Fed, and renewed China trade talks) the ranking would have been upgraded even further.

The S&P 500 is holding steady with a +1 bullish bias at 35, as the market continues to work through the aftermath of last week’s volatility pocket. The overall structure hasn’t broken, but the daily chart remains messy and undecided. The weekly chart is still bullish, but price is trapped between key moving averages, and the intraday environment continues to dominate decision making. This is a classic cleanup phase: volatility has created noise, and the market is taking time to recalibrate.

Technical Update: Trend Broken, Correction Begins We are downgrading the S&P 500 from +2 bullish to +1 bullish, with the ranking moving down to 35. The week began with a continuation of the high-base structure just beneath 6,800, and price even briefly tested new all-time highs on Thursday and into Friday’s open. That structure unraveled