The S&P 500 is currently trading inside a well-defined symmetric triangle marked with green boundaries. This structure reflects compression and balance between buyers and sellers after prior volatility.
On February 25th, price bounced cleanly from the lower boundary of the triangle, confirming that support remains respected. Yesterday, the index reached the upper boundary of the formation but failed to break through. Instead of an immediate breakout, price pulled back and stayed within the structure. That behavior confirms that the triangle remains valid and unresolved.
A symmetric triangle is typically a neutral pattern until a breakout occurs. The key is not the structure itself, but the direction of the eventual escape. A decisive daily close above the upper boundary would generate a buy signal and suggest renewed bullish momentum. In that scenario, the market would likely attempt to challenge recent highs.
Conversely, a breakdown below the lower boundary would activate a sell signal and indicate that sellers have taken control. That would shift sentiment clearly negative and open the door for a deeper corrective move.
For now, the S&P 500 remains in consolidation mode. Volatility is contracting, the range is tightening, and the market is waiting for a catalyst strong enough to push it out of the triangle. The next breakout will define the short- to medium-term direction.