The S&P 500 (SPX) is poised to fill its recent gap, having re-entered the prior consolidation range and now challenging the 200-day moving average. With the Relative Strength Index (RSI) sitting near overbought territory, the market may need a brief cooldown before resuming its trend. At the same time, rising bond yields are casting a shadow on equities, as investors weigh the impact of higher borrowing costs on corporate profits. Until yields stabilize, we’re likely to see heightened volatility around key technical levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.