S&P 500: The S&P 500 will eventually break above 4,000 as the market gains momentum

 


The S&P 500 closed up 1.39% for the week, but was unable to break the key technical level at 4,000 despite the Fed giving some indication that their rate hikes are nearing an end, per CNBC. The bears continue to defend the 4,000 level, arguing that "no bear market has ever bottomed before a recession", per CNBC. Meanwhile, bond traders are piling onto U.S. Treasuries in anticipation of sharp Fed rate cuts. We will definitely find out soon who will be on the wrong side of the market.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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