S&P 500 Daily Chart Analysis For Week of Dec 13, 2024
Technical Analysis and Outlook:
During the trading session this week, the S&P 500 index has exhibited a consistent steady to a lower trajectory, progressing towards our newly established support target of 6034. There remains the potential for a further decline to the subsequent Outer Index Dip level at 5980. Conversely, a notable upside movement via the previously retested Key Res 6090 level is anticipated, which may facilitate a rally to the Outer Index Rally target of 6123; this development will likely pave the way for the next phase of the bullish trend.
During the trading session this week, the S&P 500 index has exhibited a consistent steady to a lower trajectory, progressing towards our newly established support target of 6034. There remains the potential for a further decline to the subsequent Outer Index Dip level at 5980. Conversely, a notable upside movement via the previously retested Key Res 6090 level is anticipated, which may facilitate a rally to the Outer Index Rally target of 6123; this development will likely pave the way for the next phase of the bullish trend.
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