Jumat, 30 Januari 2026

S&P 500 Drifts Lower But Bullish Structure Remains Dominant

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S&P 500 Drifts Lower But Bullish Structure Remains Dominant

S&P 500 futures are showing short-term weakness within a still-strong uptrend. The dominant trend remains bullish, with the 23.6% Fib level acting as the key reference zone for maintaining momentum.

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Jan 30

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Market Overview:
S&P 500 futures are pulling back modestly from recent highs, with price slipping lower while the broader uptrend structure largely remains intact.

Bullish/Bearish Trend Analysis

Trend Condition: Bullish Trends: 13 Bearish Trends: 1

Trend Condition: Strong Uptrend
Explanation: Thirteen of the fourteen trend lines remain bullish and upward sloping, with only minor deterioration at the fastest end of the stack.

Trend Structure: wide and slightly flattening at the top
Implication: The wide separation reflects sustained trend strength, while the slight flattening suggests momentum is slowing rather than reversing.

Probability Outlook:
Continuation: 65% — The dominant bullish alignment still favors trend continuation despite minor weakness.
Consolidation / Pullback: 35% — A growing width and early bearish flip increase the odds of sideways digestion or a shallow corrective move.

Charts by TradingView

Price Action and Momentum Zones

Current Price and Change: Currently, the S&P 500 Futures are at approximately 6,968, down about 22 points or roughly 0.31% versus the prior session shown on the chart.

Market Behavior: Today’s candle is red with a moderate range, showing selling pressure after a recent advance but no decisive breakdown through key structure.

Momentum Zones: Price has slipped back toward the upper momentum zone, hovering closer to the 23.6% retracement rather than extending higher, signaling cooling momentum rather than a trend failure.

Overall Market Interpretation:
The broader trend remains firmly bullish, but near-term momentum has softened as price pulls back from recent highs. The wide trend structure suggests strength is still present, though the first bearish flip and declining price signal a transition from expansion to digestion. Current action aligns more with consolidation risk than with a trend reversal.

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