The S&P 500 shifts into a slightly bullish condition this week, upgraded 10 points to +40, marking the first time during the entire correction cycle that the market has reclaimed that designation after weeks of persistent lower highs and lower lows. The upgrade reflects a meaningful change in structure following the breakout earlier in the week, where price established a new resistance zone for the first time in this environment. The move was accelerated by a catalyst event tied to the U.S.–Iran ceasefire, but the more important development was how price behaved after the breakout, holding gains and maintaining control into the close.

The S&P 500 has transitioned into a more balanced technical condition this week, earning an upgrade to a neutral stance. After multiple weeks defined by expanding downside momentum and a clear violation of the 6,500 support level, the market finally showed a meaningful shift in behavior. The broader trend remains corrective, but this week broke several of the short-term patterns that had consistently defined the selloff and, for the first time, showed bulls willing to battle.

Technical Update: Repeated 9 EMA Rejections Maintain Pressure in Ongoing Correction The S&P 500 remains in a confirmed correction, and the technical story has not changed. In fact, it has become more consistent and more aggressive. This marks the fourth consecutive week of the same pattern. Early strength, rejection at the 9 EMA, and selling

The S&P 500 was downgraded to 50 this week as the current correction continues to develop and price breaks below the first support level we outlined last week. The market remains in the C leg of the ABC correction, with downside momentum still in control as volatility tied to the geopolitical backdrop keeps pressure on risk assets. While the longer-term trend remains intact, the short-term structure has weakened, and the ranking reflects the need to see support hold before a bullish posture can return.

The S&P 500 was downgraded another 5 points this week to +45, shifting the market into a neutral posture as the current correction continues to develop against the backdrop of the longer-term uptrend. The downgrade reflects the deterioration in short-term price structure as multiple indexes have broken support, momentum has continued to slow on the weekly chart, and volatility tied to the geopolitical backdrop has kept pressure on risk assets. A neutral ranking is appropriate in this environment as the market works through a short-term downtrend while still holding the broader bullish trend on the higher timeframe.

The S&P 500 was downgraded this week to a +40 ranking, placing the market in a neutral to slightly bullish posture. The adjustment reflects the growing technical pressure building across the major indexes as several areas of the market lost short-term structure and volatility increased throughout the week. While the market has not yet confirmed a full correction, the deterioration underneath the surface is becoming clearer as leadership trends begin to break and price drifts toward critical support levels.