As reported by economists at Credit Suissethe S&P 500 is at a key turning point, which is considered critical for whether a bear market holds.
A break above 4,101 suggests that the main trend has moved sideways.
The S&P 500 has returned to above its 200-day moving average, but for now other key resistances in the downtrend from early 2022 remain intact, currently at 4,047, with the “reversal week” high. December at 4,101. We continue to hold the view that a bear market may remain below here.”
“A close above 4,101 would change the main trend to neutral and open the door for further strength again towards 4,147/55, and then 4,300/4,325.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
