The SP500 is currently showing strong bullish momentum, with price action above the 20-period EMA across multiple timeframes. The RSI indicates overbought conditions, suggesting the possibility of a short-term pullback, but the overall trend remains bullish. A potential buy opportunity could emerge after a slight correction around the 5,670-5,680 support zone. The target would be near 5,730-5,740, with a stop placed below 5,650 to protect against downside risk. Keep an eye on volume and market sentiment for further confirmation.
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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.