SP500: Pullback before the big Bull Run towards 4700!

26 nov. 2023

Essentially, the session of the U.S. stock market index was relatively flat, hovering close to previous values and closing with a modest increase of 0.06%. The start remained stable compared to the previous day's close, with subsequent movements within a trading range throughout the entire session and an improvement towards the peak reached at 4,560.3. Presently, the short-term analysis of the Standard & Poor's 500 index indicates a decisive upward trend, with a identified target at 4,574.4. In the event of a temporary physiological correction, the immediate target is seen at 4,529.1. However, expectations are leaning towards a further increase in the curve, reaching a maximum of 4,619.8. Anticipations include a slight pullback towards 4,400 after an impressively strong bull run, followed by a resurgence towards 4,700. I anticipate a retracement within the median of the bullish channel corresponding to the 0.38% Fibonacci level. Share your thoughts; I would be enthusiastic to hear them. Best regards and have a great Sunday from Gaia.