EDGE Chart of the Day – SPX500 – (February 17th, 2025)

The S&P 500 (SPX) is breaking higher once again, pushing into uncharted all-time high (ATH) territory. The next upside target stands at 6,193, which corresponds to the 127% Fibonacci extension of last year’s pullback. On the downside, support is now seen at 6,020, marking a key level to watch going forward. Meanwhile, the VIX remains subdued, trading below 15, with the December low at 12.70 still some distance away. Although the daily RSI continues to display bearish divergences, this alone does not constitute an actionable reversal signal, particularly in such a strong and well-established uptrend.

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