S&P 500 Wave Analysis – 1 April 2025

S&P 500: ⬆️ Buy

– S&P 500 reversed from support area

– Likely to rise to resistance level 5700.00

S&P 500 index recently reversed from the support area located between the support level 5500.00 (low of the previous wave (A)), lower daily Bollinger Band and the 61.8% Fibonacci correction of the uptrend from August.

The downward reversal from this support area stopped the earlier short-term impulse wave 1 of the downward impulse sequence (C) from the end of March.

Given the improving sentiment across the equity markets and the strength of the support level 5500.00, S&P 500 index can be expected to rise to the next resistance level 5700.00.