- Analytics
- News and Tools
- Market News
- S&P 500 Index extends the uptrend to tackle the 4540 mark - SocGen
S&P 500 Index extends the uptrend to tackle the 4540 mark - SocGen
FXStreet notes that the S&P 500 Index has notched ten record closing highs so far in August. Furthermore, it defended the 50-day moving average near 4365 last week resulting in an extension of the uptrend. Economists at Société Générale expects the S&P 500 to challenge the 4540 level next.
“S&P 500 is heading towards a potential hurdle of 4540 representing a trend line connecting peaks of September 2020, April/May 2021.”
“Test and rejection of above line near 4540 could result in a pullback. This is not a reversal signal, however, temporary exhaustion can’t be ruled out.”
“4440 and the recent low of 4365 will be short-term supports.”
© 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
