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SP500 to break into new all time highs?

Sep 23, 2019 (12:25)

by John Knobel

Trading Insights

U.S. Economic Data beating expectations, leading US indicators beat forecast last week; Maybe the FED’s on the right track, US stock markets trading near record highs --- are stocks about to break into new historic all-time highs?

Higher stock markets depend on US consumers; lower US interest rates, consumer spending remaining strong and the US Fed willingness to be more aggressive if economic data weakens adding to support the outlook that US stock markets may be able to break out into new all time highs;

Technical Analysis (SP500)

SP500 price in a sideways trading range last 8 trading sessions, a break above 3,029.50 resistance opens up prospects for price extensions towards the 3,089 to 3,186's , on the downside a break below 2,945 opens up prospects for a downside price correction towards the 2,945 -2,848 lower supports;

Source: FXGM / Bloomberg

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