S&P Hits All-Time Highs: Reversal Incoming?
The S&P has hit an all-time high, breaking previous records. However, the chart suggests a potential reversal as it struggles to break the resistance at the 0.5 Fibonacci level ($6,019.68). Currently, the S&P is holding at the support level of $5,862.46. To maintain its bullish momentum, it must stay above this support. If it fails, the next support level is $5,772.72. A breakdown below these levels could trigger a broader market decline.
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This analysis is for educational purposes, and I hope the TradingView moderators respect that. My goal is to educate and build a strong community, providing transparent insights into the stock market. If you find this content valuable, please hit the like button. Feel free to ask any questions in the comments I'm happy to help. Thank you!
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