It is likely the market does have another run in it given SPX has broken ATH and then back-tested off the previous resistance. That type of movement has proven to be a strong bullish signal in the past.
6100 is an interesting target.
The repeat range of the '20-'21 rally, measured off the Oct '22 low, is 6100.
The repeat range of the Apr-Jul '24 rally, measured off this month's low, is also 6100.
Play what's in front of you not what you want to see.
It is likely the market does have another run in it given SPX...
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Last
8,212.3 |
Change
8.600(0.10%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,203.7 | 8,225.5 | 8,203.7 |
| XJO (ASX) Chart |