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Patrick Dunuwila

Chart of the Day - Tuesday, August 5, 2025

August 5, 2025


🏆 Today's Chart of the Day was shared by Nautilus Research (@NautilusCap).
 

  • After a strong rebound yesterday, the S&P 500 ($SPX) fell -0.5% today, opening slightly higher before reversing lower at 6,346.
     
  • The bounce ended precisely at the 61.8% retracement of last week's decline, hence the Fibonacci statue smacking down the rebound with a baseball bat.
     
  • Clearing this threshold would've opened the door for a full recovery to all-time highs. But with today's rejection, $SPX is vulnerable to a retest of last week's low in the coming days. 
     
The Takeaway: The S&P 500 reversed lower today after retracing exactly 61.8% of last week's decline. This key Fibonacci retracement is now resistance, and a retest of Friday's low is back in play.
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