S&P 500: RSI Shift + Fib Support | Consolidation ContinuesS&P 500 IndexTVC:SPXChartrickPrice is consolidating - and the next move hinges on two critical thresholds. CMP: 7354.03 (as on 29 June 2026) Market Structure Following a sharp correction from 7620.90 down to 7237.85, the S&P 500 has entered a consolidation phase within a broader uptrend. Price closed above the 0.236 Fibonacci retracement at 7328.25 but remains below the downward sloping trendline - a structure that keeps directional conviction neutral for now. Lower highs continue to indicate weakening short-term momentum, while the medium-term context shows accumulation interest at lower levels. Technical Indicators RSI: RSI has made a range shift into the 40-60 zone, confirming consolidation. The 40 level is acting as momentum support - a breakdown below it may signal increasing downside risk. A sustained move above 60 would strengthen the broader bullish structure. Bollinger Bands: Price is sustaining below the Mid Bollinger Band (7454.54), which is acting as a resistance zone in the near term. Fibonacci: The 0.236 level at 7328.25 has been retested and is currently holding as immediate support. The 0.382 at 7384.18 is the first resistance ahead of price. Key Levels Resistance: 7384.18 - Immediate resistance (Fibonacci 0.382) 7429.38 - Key resistance (Fibonacci 0.50) 7454.54 - Mid Bollinger Band Support: 7328.25 - Immediate support (Fibonacci 0.236) 7265.93 - Key support 7237.85 - Major support Does the index reclaim the trendline and RSI 60 this week - or does consolidation extend further? SPX, SP500, S&P500, IndexTrading, TechnicalAnalysis, FibonacciLevels, RSI, BollingerBands, MarketAnalysis, StockMarket 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.