3 min readS&P 500 (SDX):
The S&P 500 has shown sustained upward momentum over the past few weeks, with price action breaking above the descending trend line after successfully holding support in the demand zone below.
A closer look at the technicals reveals that price action perfectly rebounded off the internal demand area just below $5,875. This movement also aligned seamlessly with a pullback below the 50% Fibonacci level. Moving forward, I am curious to see if the bullish momentum can persist and push price action into new all-time highs (ATHs). At the moment, the RSI indicator does not show any signs of the price being “overbought.”
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
