FX.co ★ If the support level 6327.24 on S&P 500 Index's can withstand today's downward correction, it will lead to renewed strengthening.Thursday, July 24, 2025.

S&P 500 Index – Thursday, July 24, 2025.

With the Golden Cross EMA(50) above the EMA(200), buyers are quite dominant. Although the RSI(14) indicator is at a neutral bullish level, a divergence has appeared, indicating the potential for a limited downward correction.

Key Levels

1. Resistance. 2 : 6412.01.

2. Resistance. 1 : 6390.76.

3. Pivot : 6348.49.

4. Support. 1 : 6327.24.

5. Support. 2 : 6284.97.

Tactical Scenario

Positive Reaction Zone: If the price successfully breaks through and closes above 6390.76, the index will continue to strengthen to 6412.01.

Momentum Extension Bias: If the 6412.01 level is successfully broken through and closes above it, the S&P 500 index will continue to strengthen to 6454.28 if momentum and volatility support it.

Invalidation Level / Bias Revision

Upside bias weakens when the #SPX price breaks through and closes below 6284.97.

Technical Summary

EMA(50): 6354.44.

EMA(200): 6329.46.

RSI(14): 65.58.

Economic News Release Agenda:

Positive US macroeconomic data, corporate buybacks, and global optimism have the potential to drive the S&P 500 index higher today. Today's US economic data releases are:

US Unemployment Claims - 19:30 WIB.

US Flash Manufacturing PMI - 20:45 WIB.

US Flash Services PMI - 20:45 WIB.

US New Home Sales - 21:00 WIB.

US Natural Gas Storage - 21:30 WIB.