Economists at Credit Suisse view the bounce in the S&P 500 Index as temporary. Resistance at 4,490 capping on a closing basis can keep the immediate r
Resistance at 4,490 capping on a closing basis can keep the immediate risk lower
Below 4,302 would then be seen to open the door to the next meaningful support cluster seen at the 38.2% retracement of the entire 2022/2023 uptrend, key rising 200-DMA and January high at 4,195/4,136. With the uptrend from the March 2020 low seen not far below at 4,102, we would look for a better floor to ideally be found here.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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