It seems S&P is going through a soft bounce back after selloff towards 10W MA around 58-5900 levels. This could be the strong rejection leading to summer lows around 52-5300 range .
If Macro is promising could resume bull run by providing good entry otherwise a recovery towards 5600 which eventually sees 4800 or 2021 ATH making a long range for 4-5 years providing 2026 to reach towards 5800 level by end of December 2026 and giving a new ATH only in 2027 .
If Macro is promising could resume bull run by providing good entry otherwise a recovery towards 5600 which eventually sees 4800 or 2021 ATH making a long range for 4-5 years providing 2026 to reach towards 5800 level by end of December 2026 and giving a new ATH only in 2027 .
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Defensive Times?There was an early and stronger rejection in the counter trend move indicating bears are in control of the chart now. There is no change in the overall projection except that we may see deeper ~5200 by summer . If macro situation is not improved in the US & Global economy, a short bounce to 5500-5600 will be seen before presenting a deeper and cheaper entries for yearend around 4800 ranges.
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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.