SP500: Pullback before the big Bull Run towards 4700!
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.
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