S&P 500 - Flying high, overbought and stretched 7.2.24
Weekly trend-line stretching back to November 2022, is being tested around the level of 5,000 which is also a "psychological barrier" for price action to proceed going higher.
A re-test of the breakout above the 4,800 level is expected in the near-term.
A re-test of the breakout above the 4,800 level is expected in the near-term.
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