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- S&P 500 Index: Above 3899/97 keeps the immediate risk higher – Credit Suisse
S&P 500 Index: Above 3899/97 keeps the immediate risk higher – Credit Suisse
FXStreet reports that Credit Suisse discusses S&P 500 prospects.
“S&P 500 maintains its break above its near-term downtrend from mid-February and although the market has yet to close in a new record high above 3950/51, the immediate risk stays seen higher. We would stress though that we remain of the view the next phase of strength is likely to be a choppier trend higher.”
“Whilst support at 3899/97 holds the immediate risk should stay higher for a move back to 3960, then what we look to be tougher initial resistance at 3975/80, from which we will look for a fresh pullback. Big picture, we continue to look for a move in due course to 4070/75.”
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