S&P 500 Wave Analysis – 17 February 2026

S&P 500: ⬆️ Buy

– S&P 500 reversed from pivotal support level 6800.00

– Likely to rise to resistance level 7020.00

S&P 500 index reversed up from the support area between the pivotal support level 6800.00 (which has been reversing the price from January), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from November.

The upward reversal from this support area formed the 3^rd consecutive candlesticks reversal pattern Doji.

Given the clear daily uptrend, S&P 500 index can be expected to rise to the next resistance level 7020.00 (upper border of the active sideways price range).

Source: https://fxpro.news