Friday, July 11th, 2025

Friday, July 11th, 2025

Current ACAP Momentum/Trend Model Signal: NEUTRAL (Day Count = 3)

The SPX index gained 27bps during yesterday’s session, closing at 6280.  Once again, the uptick in price was not confirmed by internals as my momentum and trend indicators remain flat to weak.  My Spot VIX signal is “neutral”.  My VIX Term Structure signal is “risk on”.  The ACAP Momentum/Trend Model signal is Neutral.  As I wrote yesterday, “I am sticking to the Neutral call here and expect price to retrace to the downside in the near term.”

Trade Support:

6200: July 7 Low

6147: Previous All-Time High (Feb 19)

6100: Previous Support

6000: Previous Support

Trade Resistance:

6284: All-Time High (Jul 3)

6390: Fibonacci Projection (Aug ’22 Low to Feb ’24 High)

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