S&P 500 Daily Chart Analysis For Week of July 31, 2026S&P 500SPCFD:SPXTradeSelecterTechnical Analysis and Outlook: During this week's trading session, the S&P 500 Index moved lower as it aimed for the completed Inner Index Dip at 7,295. Subsequently, a robust rebound occurred, allowing the index to reach our Mean Support level of 7,510. This development indicates that the current Active Retracement is susceptible to correction, with a likely target of the Mean Support level at 7,413. On the upside, there exists the potential for a "dump-and-pump" scenario, which may result in a retest of the Key Resistance level at 7,578. Should this upward trend persist, the index may also tackle the completed Outer Index Rally at 7,610.