SPX500USD - Key Levels to Watch Ahead of Major US Data!

The S&P 500 Index (SPX500USD) is currently trading near a significant supply zone around 5885–5925. Price has shown clear rejection here multiple times, indicating strong selling pressure from institutional players.

Key Levels:

Resistance Zone: 5885–5925 (Supply Zone)

First Support: 5659.1 – former resistance, now turned key support

Major Demand Zone: 5355.3 – 5400, marked by high-volume accumulation (Visible Range POC)


Bearish Scenario: If price fails to break above the 5925 resistance, we may see a potential sell-off toward 5659 first, and possibly down to the 5355 demand zone, especially with upcoming US economic data later this week (as marked by the calendar icons).

Watch For:

Rejection candles or bearish engulfing around 5885–5925

Break and close below 5659 for further downside confirmation

Strong bullish momentum only above 5930 to invalidate bearish bias


Bias: Bearish unless 5930 is broken convincingly.

Technical Tools Used:

Supply & Demand Visible Range (LuxAlgo)

Volume Profile Support Zones

Price Action Structure (1H)


What do you think? Will SPX500 hold the resistance or break to new highs? Let’s discuss!

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