S&P 500 Wave Analysis – 26 May 2025

- S&P 500 reversed from support level 5775,00
- Likely to rise to resistance level 5970,00

S&P 500 index recently reversed up from the pivotal support level 5775,00 (former resistance from March, which formed the daily Japanese candlesticks reversal pattern Evening Star).

The support level 5775,00 was strengthened 20-day moving average and by the 38.21% Fibonacci correction of the previous upward impulse from April.

S&P 500 index can be expected to rise to the next resistance level 5970,00, top of the previous minor impulse wave 1 from the middle of May.