- Analytics
- News and Tools
- Market News
- S&P 500 Index to challenge psychological barrier at 4600/06 – Credit Suisse
S&P 500 Index to challenge psychological barrier at 4600/06 – Credit Suisse
The S&P 500 has moved to a new record high above 4546. Analysts at Credit Suisse expect the index to extend its advance towards the 4600/06 region.
Initial support moves to 4542/21
“With momentum strong and with the short and medium-term moving averages having now also posted a bull cross, we maintain our core bullish outlook and look for a sustained break to new highs.”
“We see resistance next at 4565 ahead of 4574 ahead of the beginning of what we continue to see as its ‘typical’ extreme (10% above the 200-day average) and psychological barrier at 4600/06. We would expect an initial but temporary pause here.”
“Support moves to 4542/41 initially, with the recent price gap at 4524/20 ideally still holding to keep the immediate risk higher. Below can see a setback to 4496, then 4486/76, with fresh buyers expected here.”
© 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
