Technical Analysis
The S&P 500 cash index, depicted on its daily chart, has extended its record-breaking trajectory by decisively breaching the prior resistance level of 6,031.24. This movement has prolonged the established bullish trend, guiding prices towards a critical resistance level at 6,110.21, corresponding with the 141.40% Fibonacci extension. A continuation of this bullish momentum could see buyers break through this resistance, subsequently targeting higher levels at 6,149.12 and eventually 6,221.99.
Conversely, should sellers regain momentum, initially targeting the key support level at 5,840.49, a confirmed breakdown below this support would signal a potential shift in sentiment.
Key Events to Watch
The weekly jobless claims and U.S. trade balance reports are expected to provide further insights into the resilience of the economy. In addition, all eyes are on the non-farm payrolls report due on Friday, which will be instrumental in assessing the extent to which robust corporate growth has translated into labor market strength.
The S&P 500 cash index, depicted on its daily chart, has extended its record-breaking trajectory by decisively breaching the prior resistance level of 6,031.24. This movement has prolonged the established bullish trend, guiding prices towards a critical resistance level at 6,110.21, corresponding with the 141.40% Fibonacci extension. A continuation of this bullish momentum could see buyers break through this resistance, subsequently targeting higher levels at 6,149.12 and eventually 6,221.99.
Conversely, should sellers regain momentum, initially targeting the key support level at 5,840.49, a confirmed breakdown below this support would signal a potential shift in sentiment.
Key Events to Watch
The weekly jobless claims and U.S. trade balance reports are expected to provide further insights into the resilience of the economy. In addition, all eyes are on the non-farm payrolls report due on Friday, which will be instrumental in assessing the extent to which robust corporate growth has translated into labor market strength.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.