S&P 500 Index: Break above 4081/98 needed to see strength back to 4195/4203 – Credit Suisse SP500 Banks
“S&P 500 has managed to hold key support at 3940/27. Above 4081/98 though is needed to ease the pressure off this support for strength back to 4195/4203, then what we look to be tougher resistance at the 61.8% retracement of the 2022 fall and summer 2022 high at 4312/4325. We look for this to then prove a tough barrier to define the top of what we believe could be a broad and lengthy range.”
“A close below 3927 would now warn of a significant turn lower in the broader range with next support then seen at 3764/60 ahead of the long-term 200-week average at 3726.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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