- Analytics
- News and Tools
- Market News
- S&P 500 Index: Correction lower to emerge from 3900 - Credit Suisse
S&P 500 Index: Correction lower to emerge from 3900 - Credit Suisse
FXStreet reports that according to the Credit Suisse analyst team, the S&P 500 Index is set to be capped for now at 3900 and a correction lower can emerge from here.
“S&P 500 has paused beneath next flagged Fibonacci and potential trend resistance at 3866/68. Although momentum is still unable to confirm the new highs, with a large bullish ‘outside week’ in place from the beginning of the year, we still look for a break above 3868 for a move to our long-held and core ‘measured triangle objective’ from October at 3900.”
“With daily and weekly DeMark sequential exhaustion signals all but in place now, 10yr US Inflation Breakevens being capped at their next major resistance and our target and with a cluster of further Fibonacci projection resistances seen here and stretching up to 3930, we maintain our bias of looking for a correction to then emerge from 3900.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
