S&P 500 IndexLong
.382 retrace points to 5580 rally...?
SP500 Short Term Bullish Update: Target 5550-5600
As of June 5th, 2024, I’m providing a short-term bullish update on the SP500 (ticker SPX). My expected rise is to the 5550-5600 range with a potential overshoot to 5400, which should be short-lived, assuming 5192 holds as support. Long-term, I remain bearish on the SP500, believing we are in a grand supercycle fifth of the highest degree.
Key Points:
Short-term bullish target: 5550-5600
Potential overshoot: 5400 (short-lived)
Critical support: 5192
Long-term outlook: Bearish due to grand supercycle
As of June 5th, 2024, I’m providing a short-term bullish update on the SP500 (ticker SPX). My expected rise is to the 5550-5600 range with a potential overshoot to 5400, which should be short-lived, assuming 5192 holds as support. Long-term, I remain bearish on the SP500, believing we are in a grand supercycle fifth of the highest degree.
Key Points:
Short-term bullish target: 5550-5600
Potential overshoot: 5400 (short-lived)
Critical support: 5192
Long-term outlook: Bearish due to grand supercycle
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.