S&P 500: Uptrend to extend once the index establishes beyond 4220/4240 – SocGen
|Economists at Société Générale analyze S&P 500 technical outlook.
Bulls target next resistance at 4220/4240
“S&P 500 is challenging the resistance of 4220/4240 representing previous bearish gap and low of January 2022. An initial pullback is not ruled out however the 200-DMA near 3970 should provide support.”
“Once the index establishes beyond 4220/4240, the uptrend is expected to extend. Next potential objectives could be at last August high of 4320 and 4510.”
See: S&P 500 could rise to 4,400 by year-end in a soft landing scenario – UBS
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.