S&P 500 Index: Scope for further near-term consolidation, but with support at 4016/09 holding – Credit Suisse SP500 Banks
ear-term consolidation but with weakness still viewed as corrective for now, in the opinion of analysts at Credit Suisse.“With daily MACD threatening to cross lower, we see scope for further near-term weakness, but our bias, for now at least, remains to view this as a temporary pullback.”
“Resistance is seen at 4112/15 initially, with a move above 4154/56 needed to clear the way for a retest of 4195/4203. An eventual break above here should see a test of the 61.8% retracement of the 2022 fall and summer 2022 high at 4312/26.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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