The S&P 500 is exhibiting strong bullish momentum at the start of the second quarter earnings season. This bullish sentiment is expected to drive a general upward trend with potential rotations.
Bullish Scenario: To sustain the bullish momentum, the price needs to stabilize above the pivot line at 5620, potentially reaching 5672 and 5688.
Bearish Scenario: Conversely, if the price drops and stabilizes below 5620, it would indicate a bearish trend, potentially leading to declines towards 5585 and 5550.
Today's Expected Trading Range: Today's trading range is anticipated to be between the resistance at 5688 and the support at 5550.
previous idea:
Note
the price reached our first target which is 5672 as we mentioned in the chart
so
S&P 500 (SPX): Range: 5639 to 5672 until a breakout. - Stability above 5639 indicates a bullish trend towards 5672 and 5688. - Stability below 5639 will drop to 5620, and further down to 5584 if breached.
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.