The S&P 500 is heading towards a major resistance around the 4310 level. This is the last major resistance that needs to be taken in order to go up.
With the current state of the economy the rejection of this level is the most likely scenario. The rise in interest rates see no end this summer. And historically there tends to be a market crash after they stop raising rates and start cutting them.
Another factor is that the government will raise the debt celling causing more money to be printed which weakens the state of the economy even more. But generally will cause prices in the market to rise.
The only thing that will make the market really bullish is some new development or technology such as AI that will rapidly increase production in the United States. But currently we are at a 50/50 point on which direction we will end up going heading into 2024.
The main things to watch are the debt celling bill and the terms with in it, the Fed reserve rate hikes and what they project in the future, and any major news development of new tech and trade deals, as well as energy production and government easing restrictions on drilling.
With the current state of the economy the rejection of this level is the most likely scenario. The rise in interest rates see no end this summer. And historically there tends to be a market crash after they stop raising rates and start cutting them.
Another factor is that the government will raise the debt celling causing more money to be printed which weakens the state of the economy even more. But generally will cause prices in the market to rise.
The only thing that will make the market really bullish is some new development or technology such as AI that will rapidly increase production in the United States. But currently we are at a 50/50 point on which direction we will end up going heading into 2024.
The main things to watch are the debt celling bill and the terms with in it, the Fed reserve rate hikes and what they project in the future, and any major news development of new tech and trade deals, as well as energy production and government easing restrictions on drilling.
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