The S&P 500 index recorded its first all-time high in two years this Friday thanks to the momentum of chip manufacturers and other major technology stocks, the result of the optimism generated by artificial intelligence (AI). Speculation about an early rate cut by the Federal Reserve and the big AI deal have taken it to the brink.
After this big jump the price has formed a small ascending wedge, so the break of these levels downwards would be giving us a visit to 4832, to possibly jump from there to 4850.
On the contrary, a downward break of 4830 would give us the 4815 level.
All movements above 4850 are considered bullish.
good luck
After this big jump the price has formed a small ascending wedge, so the break of these levels downwards would be giving us a visit to 4832, to possibly jump from there to 4850.
On the contrary, a downward break of 4830 would give us the 4815 level.
All movements above 4850 are considered bullish.
good luck