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Combined Technical AnalysisNDX · SPX · DJIA · RUT

Combined Analysis SPX

NDXSPXDJIARUT
MAY 15 2026

Active Inflection Level

Combined
Active Combined Inflection Level
7,387.99
Distance: -20.51 pts (-0.28%)

This is the active combined inflection because it represents confluence of mid-term and long-term support. It is the most recently relevant structural level, and its breach would trigger meaningful consequences across multiple timeframes simultaneously.

Multi-Timeframe Directional Scenarios

IF 7,387.99 holds as support

Bullish
Near-termPrice must still reclaim 7,427.73 (+15.23 pts) to restore near-term structure.
Mid-termSupport validated; path reopens toward 7,447.00.
Long-termUptrend fully intact; no overhead resistance visible.
Combined: Bullish long-term structure intact; near-term overhead is the immediate hurdle.

IF 7,387.99 breaks as support

Bearish
Near-termAll near-term P values already overhead as resistance; breakdown accelerates.
Mid-termSupport structure fails; 7,387.99 converts to resistance.
Long-termStructural deterioration; 273.72-point gap exposed to next support.
Combined: All timeframes align bearish; every P-value becomes overhead resistance.

Timeframe Alignment Summary

Timeframe Signal Inflection Bias
Near-Term Neutral 7,427.73(resistance) Bearish
Mid-Term Strong 7,387.99(support) Bullish pending hold
Long-Term Strong 7,387.99(support) Bullish, no resistance overhead
Combined Mixed 7,387.99 Bullish if support holds

Combined Summary

Price is at a critical inflection point. The long and mid-term structure remains constructive — strong signals, no long-term resistance overhead, and a well-established base from 6,809.76. However, today's near-term breakdown has placed all near-term P values overhead as resistance, and current price sits just 20.51 points above the mid/long-term confluence support at 7,387.99.

The next 20 points are decisive. Holding 7,387.99 preserves the bullish case across all timeframes. Breaking it aligns all timeframes bearish with a 273.72-point gap to the next long-term support — a materially asymmetric downside risk relative to the 15.23-point distance to the first overhead resistance at 7,427.73.

Term Analysis — Open Charts

Raw Data

Initial Parameters

NASDAQ

Init: 28,088–29,145
If 28,088 breaks lower expect 26,570
If 29,145 breaks higher expect 33,435
Otherwise expect 28,088–29,145 to hold

DOW

Init: 48,488–48,612
If 48,488 breaks lower expect 47,790
If 48,612 breaks higher expect 48,752
Otherwise expect 48,488–48,612 to hold

S&P 500

Init: 7,387–7,427
If 7,387 breaks lower expect 7,114
If 7,427 breaks higher expect 7,447
Otherwise expect 7,387–7,427 to hold

RUSSELL

Init: 2,787–2,817
If 2,787 breaks lower expect 2,748
If 2,817 breaks higher expect 2,848
Otherwise expect 2,787–2,817 to hold

Rules Of Technical Analysis

When to Buy

Buy Rules
Buy when support is being tested — THEN sell when resistance is being tested. Stop if support breaks lower.
OR BUY if initial resistance breaks higher — sell at next resistance. Stop if initial resistance breaks lower again.

When to Short

Short Rules
Short when resistance is being tested — THEN cover when support is being tested. Stop if resistance breaks higher.
OR SHORT if initial support breaks lower — cover at next support. Stop if initial support breaks higher again.

Sample Vehicles (ETFs)

S&P 500
SPYSSOSDS
DOW
DIADDMDXD
NASDAQ
QQQQLDQID
RUSSELL
IWMUWMTWM

Help & Support

Listen to the Video in the top right corner of this page.
Platinum subscribers can email Thomas H. Kee Jr. directly.
All others, please use the Message Board.

How To Use Our Technical Analysis

01Review our combined analysis for text descriptions.
02Use the rules of Technical Analysis to make trading decisions.
03Review the Raw data for each market.
04Use Index ETFs, Eminis, leveraged ETFs as vehicles.