S&P 500 Daily Chart Analysis For Week of Feb 6, 2026Technical Analysis and Outlook:
The Index exhibited notable volatility during the trading session this week, reflecting one of the most robust rebounds observed to date. It has stabilized above the Mean Support level of 6,892 and below the Key Resistance level of 6,993.
It is anticipated that the Index will continue its upward trajectory toward the target of the Outer Index Rally at 7,026, while helming through the newly established Key Resistance level at 6,993.
However, it is imperative to acknowledge that, given the prevailing market conditions, there is a substantial likelihood of a retracement that may lead to revisiting the Mean Support at 6,892, prior to the Index regaining its bullish momentum and progressing toward the projected outcome of the Outer Index Rally at 7,026. At this stage, an In Force retracement is expected to be initiated from that completed target.
