The current S&P500 trading pattern is in a process of developing structures similar to the beginning of April 2024. The large engulfing candle on Thursday, November 20, 2025 followed by a rally is similar to April 4 – 5, 2024. In addition to this the 5-Day Moving Average Equity Put/Call Ratio continues to move higher, as it did in April 2024. What remains to be seen is how far Options and Equity Market Makers push this decline in order to accumulate the inventory they need.
Note that this information is for educational purposes only and not a recommendation.
Stock charts courtesy of StockCharts.com.
