Stocks Analysis by Fawad Razaqzada covering: EUR/USD, S&P 500, SPDR® S&P 500, US Dollar Index Futures. Read Fawad Razaqzada's latest article on Investing.com
As US index futures hint at a subdued start today amid lingering concerns about stretched valuations, especially on the S&P 500.
Following a robust quarter for US markets, we may see at least one last hurrah, even as concerns about overstretched valuations persist. What’s more, Fed Chair Jerome Powell will also be speaking on Friday. Together, these events might provide the market with additional understanding regarding the Fed’s intentions concerning interest rates.
Stocks have surged in these three months of the year thanks to an AI-inspired rally and the prevailing optimism that the Federal Reserve will initiate interest rate cuts later in the year.has soared about 25% since late October. So, there are concerns that positioning may be overstretched and that the markets are vulnerable to short-term profit-taking., which tracks the S&P 500, continues to look bullish as it remains inside a multi-month rising channel with shallow pullbacks.
What’s more, the RSI is not at extremely overbought levels yet. Every time it has risen above the threshold of 70, it has worked off its overbought conditions through consolidation, rather than a sell-off. Therefore, dip-buying strategies are the ones traders should continue to concentrate on until the trend flips to a bearish mode.
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