During Wednesday's trading session, the S&P 500 exhibited limited movement as market participants awaited major earnings calls from a range of prominent companies- Forex Forecast
Short-term pullbacks in the market are likely to present buying opportunities, as the overall trajectory continues to point higher in the long term.
On the other hand, a breakout above the top of the channel could propel the market towards the 4700 level over time. However, given the stretched nature of the market and the influx of earnings calls in the coming days, a pullback appears more plausible. Shorting this market does not appear to be a prudent choice, given the prevailing bullish narrative on Wall Street. The market's trajectory continues to reflect optimism, although it is important to recognize the potential impact of earnings reports on overall sentiment.
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