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Market Overview:
S&P 500 futures are drifting lower within the upper range, with price softening again while the trend stack stays mixed and momentum remains choppy.
Bullish/Bearish Trend Analysis
Trend Condition: Bullish Trends: 8 Bearish Trends: 6
Trend Condition: Weakening
Explanation: Bullish lines still hold a modest majority, but bearish participation remains elevated in the faster portion of the stack, keeping alignment unstable.
Trend Structure: wide but flattening at the top
Implication: The wide separation reflects the larger uptrend backdrop, but the flattening and mixed stack increase two-sided volatility and reduce trend durability.
Probability Outlook:
Continuation: 55% — The trend remains net bullish by count, but follow-through has been inconsistent.
Consolidation / Pullback: 45% — Ongoing chop near highs and mixed trend participation keep retest risk elevated.
Charts by TradingView
Overall Market Interpretation:
The market remains in a digestion phase near highs, with trend conditions still mixed and momentum lacking clean follow-through. Price is elevated relative to the larger structure, but the combination of flattening EMAs and repeated back-and-forth movement suggests a market working off prior extension.
Until the stack rebuilds a clearer bullish majority with steadier price action, the environment remains prone to chop and incremental pullback risk rather than smooth continuation.
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