AFMC - S&P 500: Final Stages Week Starting June 10th (Technical Analysis)
2024-06-09 16:00:00 ET
Summary
- As expected, the S&P500 broke to new all-time highs this week.
- The 5400-5412 target is getting close.
- This article looks at why 5400 may be significant, and where the bullish bias will change.
The S&P 500 (SPY) has made some erratic moves in recent weeks but the higher timeframes have provided a consistent bullish bias and kept us on the right side of the recent rally. Last week's article concluded, "a new high above 5341 remains probable and 5400-412 is the likely target." Friday's move reached 5375, which is getting close...but close to what?...
S&P 500: Final Stages, Week Starting June 10th (Technical Analysis)