The S&P 500 is steady with no recent negative news, apart from Trump’s tariff letters, which seem to be negotiation tactics. The market is now looking ahead to next week’s US CPI report, which could affect stock prices. If inflation is low, the market might continue to rise, but if it’s high, we could see a pullback. The Federal Reserve’s current position suggests the uptrend will likely continue. On the daily chart, the S&P 500 is around record highs and shows a good risk-reward setup near the previous high at about 6,160. Buyers are positioned close to these levels, hoping for continuation of the uptrend, while sellers are waiting for a drop to target a decrease toward 6,000. On the 4-hour chart, an upward trendline shows the uptrend, with buyers likely to step in during pullbacks for potential rebounds to new highs. Sellers may seek a break lower to target 5,800. On the 1-hour chart, there’s minor resistance at 6,315, where sellers are placing risk strategies, while buyers may increase positions on a breakout to new highs. A small upward trendline offers support for dip-buyers, as sellers could target new lows on a breakout. Current data includes the latest US Jobless Claims figures. Overall, the current market situation is clear. After a period of upward movement, the S&P 500 is pausing just below its highest level, without major news pushing it in either direction. The lack of significant selling pressure indicates that most traders view the recent tariff situation as more of a strategy than a real threat. The upcoming inflation report is critical, with the market clearly anticipating it. It’s important to watch how prices react as they hover near recent peaks. When there’s sideways movement close to highs without a sharp drop, it usually means buyers are still engaged, waiting for clarity. The key now is how strong the support around 6,160 proves to be in the upcoming trading sessions. If inflation data is lower than expected, there’s potential for a significant move upward. In that case, resistance around 6,315 may break quickly. A clear breakout through that level, especially backed by strong volume and confirmation from other indices, could draw in buyers, triggering stops for those who were too cautious. However, if the report shows higher inflation, short sellers may finally have their chance. This could break recent support and push prices below 6,000 quickly, with momentum traders joining in. We might see initial targets around 5,950 before focusing on the lower level near 5,800. There’s serious money eyeing those areas. Shorter timeframes show a similar setup with more detail. Risk is well-defined around the 6,315 line, where sellers have placed logical stops. If the price breaks above and holds, particularly early next week, it could signal significant upside risk. Momentum strategies often kick in after such moves. On the other hand, if we drop below the intraday trendline without a meaningful bounce, it could lead to quick selling. Buyers of small pullbacks might begin to doubt their positions, leading to fast changes. While we’re not in panic mode yet, a dip to 5,800 could become a real possibility. The recent jobless claims data was stable and didn’t cause much movement, explaining the calm in prices. However, attention is on the upcoming CPI numbers, and this calm might soon change. Right now, many see dips as buying opportunities, not warnings. This doesn’t guarantee a safe pattern, but it does indicate that short-term sentiment remains positive.

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