S&P 500: Something Big May Be About To Happen, Week Starting 23rd June (Technical Analysis)

Jun. 22, 2025 4:00 PM ETS&P 500 Index (SP500)SP5007 Comments
Andrew McElroy
16.61K Followers
(6min)

Summary

  • S&P 500 could be coiling for a big move. The June range (so far) is the smallest for over two years.
  • If 5963 breaks convicingly, there could be a sharp drop all the way back to 5767.
  • Despite short-term risks, I remain bullish long-term, targeting 6500-7000 and plan to add to positions near the 5600 level during any consolidation.

financial graph on technology abstract background

monsitj

There was more slow action for the S&P500 (SPY) last week, and a sense of calm (complacency?) despite the backdrop. It seems the market has found an equilibrium around 6000, but the danger is that a catalyst upsets that balance. A contracting range

This article was written by

16.61K Followers
Andrew McElroy is Chief Analyst at Matrixtrade, author of the ebook 'Fractal Market Mastery' and producer of the 'Daily Edge.' The 'Daily Edge' is emailed before each US session and outlines actionable ideas, directional bias, and important levels in the S&P500. It also looks at 'What's Hot,' on any particular day, whether it is commodities, stocks, crypto, or forex. Andrew has developed a top-down proprietary system that starts with his weekend Seeking Alpha article focusing on the higher timeframes. Fractals, Elliott Wave, and Demark exhaustion signals are all incorporated, as are macro drivers and analysis of the market narrative. It is much more than just a few lines on a chart - it is a system developed over 15 years and proven to deliver a consistent edge. An independent trader since 2009, Andrew manages a family portfolio of stocks and ETFs with his wife and fellow Seeking Alpha contributor Macrogirl.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of VOO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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