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Figure Heloc 
FUNDAMENTAL
OVERVIEWThe S&P 500 opened lower
yesterday but eventually erased all the losses and reached new weekly highs.
The sentiment changed last Wednesday when Trump announced that he reached a
“framework” of a deal for Greenland and that he won’t go ahead with tariffs. That
was the TACO trade that everyone was waiting for. As mentioned last week,
with this risk out of the way, and barring new geopolitical escalations, we
should have a clear path to new all-time highs. The focus should now switch
back to economic data and the Fed. Some hawkish repricing could weigh on the market in the short-term, but those will likely be
dip-buying opportunities as long as there’s no re-acceleration in inflation. Tomorrow, we have the FOMC decision
where the central bank is expected to keep everything unchanged as they await
more data before considering further rate cuts. There’s also a chance that
Trump decides to steal the show by announcing his Fed chair pick. The leading
candidates, in order of likelihood, are Rieder, followed by Warsh and Waller. The market might like Rieder or Waller due to their perceived likeliness of convincing the other members to vote alongside them and because of lower risk of loss of Fed independence.S&P 500
TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn
the daily chart, we can see that
the S&P 500 eventually erased all
the losses experienced after the Trump’s escalation over Greenland. The price
is now slowly approaching a new all-time high as bearish risks recede. There’s
not much we can glean from this timeframe, so we need to zoom in to see some
more details.S&P 500
TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn
the 4 hour chart, we can see that
the price broke above the downward trendline yesterday and extended the gains
into new highs as the buyers increased the bullish bets into new record highs.
We have an upward trendline now defining the bullish momentum. From a risk
management perspective, the buyers will have a better risk to reward setup
around the trendline to keep pushing into new highs. The sellers, on the other
hand, will need the price to break lower to open the door for a drop into the
6,771 level next.S&P 500 TECHNICAL
ANALYSIS – 1 HOUR TIMEFRAMEOn the 1 hour chart, we can
see that we have a minor support zone around the 6,970 level. This is where we
can expect the buyers to step in with a defined risk below the support to keep
pushing into new highs. The sellers, on the other hand, will look for a break
lower to extend the pullback into the trendline. The red lines define the average daily range for today.UPCOMING CATALYSTSToday we have the weekly US ADP jobs data and the US Consumer Confidence
report. Tomorrow, we have the FOMC policy announcement. On Thursday, we get the
latest US Jobless Claims figures. On Friday, we conclude the week with the US
PPI report.
This article was written by Giuseppe Dellamotta at investinglive.com.
💡 DMK Insight
The S&P 500’s recovery to new weekly highs signals a shift in market sentiment, driven by geopolitical developments. Trump’s announcement about Greenland and tariff delays has eased trade tensions, which could lead to increased risk appetite among investors. This sentiment shift is crucial for traders, especially those in equities and related sectors. Watch for potential volatility as the market digests these developments; a break above recent highs could attract more buyers, while any reversal might trigger profit-taking. Keep an eye on the 4,400 level as a key resistance point—if the index can hold above this, it could pave the way for further gains. Conversely, a drop below 4,350 might indicate a bearish reversal, prompting a reassessment of positions. As always, monitor related markets like commodities and forex for ripple effects from these announcements.
📮 Takeaway
Watch the S&P 500 closely; a sustained move above 4,400 could signal further bullish momentum, while a drop below 4,350 may trigger selling pressure.
