S&P500 Daily Trade Setup 17/6/26
Bullish S&P 500 — Multi-Timeframe Overview
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Weekly Timeframe
The weekly chart confirms a strong bullish trend, with price continuing to print higher highs and higher lows inside a rising channel. Price is approaching the upper Fibonacci target area, while momentum remains supportive of further upside. As long as the price holds above weekly channel support and the latest higher low, the broader trend remains bullish.
H4 Execution Timeframe
The H4 chart highlights a pullback within the broader uptrend, with price finding support along the rising blue trendline. This retracement appears corrective rather than bearish, creating a favorable dip-buying opportunity in line with the weekly trend. If support holds, upside targets remain the 1.272 and 1.618 Fibonacci extensions. The setup stays valid while the price remains above the blue trendline and recent swing low.
Technical Thesis
The weekly chart defines the bullish bias, and the H4 chart provides the trade entry and invalidation levels. Multi-timeframe alignment continues to favor buying pullbacks into H4 support. A clear break below the H4 trendline would weaken the setup and shift attention to deeper weekly support before the uptrend resumes.
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Patrick has been involved in the financial markets for well over a decade as a self-educated professional trader and money manager. Flitting between the roles of market commentator, analyst and mentor, Patrick has improved the technical skills and psychological stance of literally hundreds of traders – coaching them to become savvy market operators!