3 min readS&P 500 (SDX):
Upward momentum in the S&P 500 has been strongly sustained over the past few weeks. As we approach earnings season, I’ll be watching this index closely to see how it responds around key internal ascending trendlines. If these major structural points are broken, we’ll need to reassess our forecasts and monitor the next price levels carefully.
A closer look at the technicals shows that even within these smaller intraday moves, price is closely following technical indicators. As seen below, price has moved into a former resistance area, which is now acting as support and aligns precisely with the 50% Fibonacci retracement level. This alignment provides a straightforward way to identify “pullbacks” when price enters new discovery zones.
Author
Risk Disclaimer Disclaimer: The content provided here is for informational purposes only. It is not intended as personal investment advice and does not constitute a solicitation or invitation to engage in any financial transactions, investments, or related activities. Past performance is not a reliable indicator of future results.
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.
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.
