S&P 500 Nears 261% Extension Target as RSI Divergence Flags Caution

 | Jul 17, 2025 06:23PM ET

SPX approaching key resistance.
We have been targeting the 261% extension in the SPX for weeks in the S&P500. That target is quickly approaching, with the level now within 50 points of that level. Even though most of us traders use different instruments to trade the S&P, measure the 261% Fibonacci extension of the June 11th high to June 23rd low and you should come to the same conclusion. Daily RSI is divergent as price makes new highs which is a clue that we are nearing a tradable near term high in the market.
S&P 500 Daily Chart
Get The News You Want
Read market moving news with a personalized feed of stocks you care about.
Get The App

Blake Morrow

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Sign out
Are you sure you want to sign out?
NoYes
CancelYes
Saving Changes