S&P 500: Best Case Scenario? Another Failed Rally (Technical Analysis)

Market Performance - The S&P 500 broke below the range lows at the start of the week but recovered to close around 1% higher by the end of the week, marking another failed breakdown, the third of 2026 [1] Analyst Insights - Andrew McElroy, Chief Analyst at Matrixtrade, has developed a proprietary system over 15 years that incorporates fractals, Elliott Wave, and Demark exhaustion signals, along with macro drivers and market narrative analysis [1] - The 'Daily Edge' produced by Andrew provides actionable ideas, directional bias, and important levels in the S&P 500, focusing on various asset classes including commodities, stocks, crypto, and forex [1] Investment Strategy - The analysis emphasizes a top-down approach starting with higher timeframes, aiming to deliver a consistent edge in trading [1]