Stock Markets Analysis and Opinion
S&P 500 Stalls Below All-Time High, Forming Rectangle Pattern
2024.10.09 08:20
The has created a short rectangle just below the ATH. Support is the previous ATH at 5656 and resistance is at 5770.
A break in either direction dictates the next move for the index but given the prior trend a break to the upside is far more likely than the alternative. 5872 is the implied target in case of an upside break and 5575 in case of a break lower.
