- Analytics
- News and Tools
- Market News
- S&P 500 Index: Resistance at 4475 to cap for a corrective pullback - Credit Suisse
S&P 500 Index: Resistance at 4475 to cap for a corrective pullback - Credit Suisse
FXStreet reports that S&P 500 extends its low volatility grind higher and analysts at Credit Suisse continue to look for trend resistance from April, today seen at 4475 to cap at first for a corrective pullback.
“S&P 500 has edged higher again as the market extends its relentless low volatility grind higher although still on very low ‘summer’ volume.”
“Strength is still capped for now by trend resistance from April, today seen at 4475. We continue to look for an attempt to see a corrective pullback from here.”
“Support is seen at 4451/49 initially, then the ‘outside day’ low and 13-day exponential average at 4436/25, which we look to ideally hold.”
“A direct and closing break above 4475 can see the immediate risk stay higher for a move to the psychological 4500 level next, with the upper end of its ‘typical’ extreme (15% above the 200-day average) now at 4585.”
© 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
