SPX Weekly : Market Prediction & Key LevelsS&P 500 IndexTVC:SPXChartrickThe S&P 500 just shed 2.68% in a single week, and the next few candles matter. CMP: 7,376.86 (as on 06 November 2026) Market structure The broader higher-highs and higher-lows structure remains intact, but the index is now in a corrective phase. Price failed to sustain above the middle Bollinger Band at 7,612.27 and lost the RSI 60 threshold on the way down. It is now approaching an important ascending trendline that originates from the broader bull-market structure. The weekly low of 7,350.35 also tested immediate support around 7,354.03. Indicators RSI is at 44.93, down from above 60 and reflecting weakening momentum. The 40 level is the key momentum support zone to watch, and the index found support there previously. A sustained recovery above 60 would indicate improving momentum. Price is trading below the middle Bollinger Band at 7,612.27, which points to weakening short-term momentum. Fibonacci reference levels 0.000 - 7,844.52 0.236 - 7,134.28 0.382 - 6,694.90 0.500 - 6,339.78 0.618 - 5,984.66 Levels to watch Resistance: 7,411.97 - Immediate Resistance 7,517.12 - Key Resistance 7,844.52 - Major Resistance Support: 7,354.03 - Immediate Support 7,237.85 - Key Support 7,134.28 - Major Support The critical zone for the next directional move is 7,237.85 - 7,517.12. Further downside remains possible if the ascending trendline and key support levels fail to hold, while a recovery above immediate resistance would indicate improving short-term price structure. What resolves first in your view: a hold on the ascending trendline, or a move back toward immediate resistance at 7,411.97? SPX, SP500, S&P500, weekly analysis, technical analysis, RSI, Bollinger Bands, Fibonacci, support and resistance This analysis is educational technical chart analysis provided for informational purposes only. It does not constitute investment advice or any recommendation to buy, sell, or hold any financial instrument. All analysis is based on publicly available market data and is subject to change. Users are solely responsible for their own investment and trading decisions.