Long term bullish uptrend with good conviction.
What I see here is at least a consolidation with a bullish bias for the larger part of 2025.
Price can be expected to hold and consolidate above 5520 support.
A breakout and close above recent graphical swing high at 6152.75 will confirm further upside towards long term year end target at 6850/6870.
Momentum indicators are bullish all around which isn't really impactful since the SPX is generally in an upwards trending pattern.
Alternatively,
Failure to hold above 5520 support and a breakdown followed by a monthly close below this support level could see a bigger drop back down to huge graphical overlap support at 4758/4760 level.
What I see here is at least a consolidation with a bullish bias for the larger part of 2025.
Price can be expected to hold and consolidate above 5520 support.
A breakout and close above recent graphical swing high at 6152.75 will confirm further upside towards long term year end target at 6850/6870.
Momentum indicators are bullish all around which isn't really impactful since the SPX is generally in an upwards trending pattern.
Alternatively,
Failure to hold above 5520 support and a breakdown followed by a monthly close below this support level could see a bigger drop back down to huge graphical overlap support at 4758/4760 level.
Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? - Luke 14:28
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? - Luke 14:28
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.