- Analytics
- News and Tools
- Market News
- S&P 500 Index: Break above 4400/10 needed to ease immediate threat of a more concerted setback – Credit Suisse
S&P 500 Index: Break above 4400/10 needed to ease immediate threat of a more concerted setback – Credit Suisse
S&P 500 needs to clear 4410 to ease immediate thoughts of a correction lower for strength back to 4448, potentially 4500/4535, which analysts at Credit Suisse look to cap.
Key near-term support is seen at 4346/28
Above resistance at 4400/10 is needed to ease the immediate threat for a more concerted correction lower for strength back to the 4448/53 current cycle high, then the channel top at 4500. With major resistance seen just above here at 4513/4535 – the 78.6% retracement of the 2022 downtrend and ‘reversal day’ high from late April 2022 – we continue to look for a more important top here.
A close below 4346/28 would suggest a near-term top is already in place and a deeper correction lower can indeed emerge. We would then see support next at 4299/92, ahead of the 4261 early June reaction low, where we would expect fresh buyers to show at first.
© 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
