S&P 500: The powerful technical rebound could continue if the 4,337 support level holds


 

The bears were caught off guard by a powerful S&P 500 rebound off its key trendline support and a support level at 4,115. The index has now broken above the key resistance level at 4,337 and technically exited its correction territory. The S&P 500 may retest the 4,337 support level and/or bounce off from there. The next key resistance level is at 4,480. Last week, Oppenheimer reiterated their S&P 500 year-end target at 4,900, per CNBC.

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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