Technical analysis by WiseLeoTrading about Symbol SPYX: Buy recommendation (10/31/2025)

Fundamental Analysis The current bullish trajectory of the US500, is overwhelmingly earnings driven. Robust Q3 corporate results, notably massive beats from tech and consumer giants like Apple with record iPhone sales and services, Amazon’s cloud revenue surge , have provided a decisive fundamental lift. This resilient performance has overshadowed macro uncertainties around Fed policy caution, trade tensions and cemented investor confidence in double digit earnings growth projections for 2026. The rally is characterized by solid breadth, extending beyond mega caps to sectors like Energy, suggesting a durable economic foundation. Technical Analysis The US500 exhibits strong bullish momentum, on track for its best monthly streak in years. The index is testing a critical resistance zone between 6,885 and 6,890, formed by the convergence of long-term trend lines. A confirmed weekly close decisively above 6,900 is necessary to validate a powerful breakout toward the psychological 7,000 level and signal an acceleration in the uptrend. Short term downside is currently contained by strong support levels, indicating that pullbacks are likely to be met with active dip buying. Outlook The overall outlook for the US500 is constructively bullish into year end. As positive earnings guidance reinforces investor sentiment, the path of least resistance remains higher. However, given the proximity to all time highs and critical technical resistance, short-term volatility and consolidation are likely as the market digests the risk of stretched valuations e.g. (Nvidia's high GDP ratio is a notable concern) before attempting a sustainable move toward the 7,000 mark. Analysis is by Terence Hove, Senior Financial Markets Strategist at Exness