The 500 S& P 500 (S& P 500) index, which is almost used globally as a reduction in the stock market, has seen almost 25 % transition to the upward trend in 2024.
By the end of 2024, most Wall Street analysts were optimistic about 2025. However, they did not expect another remarkable year vision. The high estimate on the street, which was developed by John Stolzvos from Obenheimer’s, included an increase of 17.54 % against the backdrop of artificial intelligence developments (AI).
To date, it doesn’t seem likely to be fulfilled. By the time of the press on March 6, the index reached 5,842 – after it was characterized by a decrease of 39 points since the beginning of the year. In terms of percentage, this is a loss of 0.66 %.
Many factors in play. Among them An emerging trade war Between the United States and the rest of the world.
In addition to the possibility of many economies of the Group of Twenty, which caused the dollar to enlarge the dollar, the global reserve currency, and many other negative consequences, the economic conflict had a significant impact on the stock market, which was at a historical level in terms of excessive value even before the start of the exchange of customs tariffs.
Despite these fears that are still sophisticated, a technical analyst is still optimistic-at least for the expected future.
Can the S&P 500 reach 6,900?
Researcher famous graph Tradingshot Share his analysis in March 5 Tradingvief mail. According to the analyst, the S& P 500 was in the upper channel style since the bottom of the market in October 2022.
The channel is up, on its own, is a bullish pattern, but it requires great fluctuations. The current decrease is a higher decrease in the long-term graph-a sign that the prevailing upward trend is still in play. Moreover, the S&P 500 amounted to 200 points in the period in the daily time frame for the first time since November 2023.
In addition, the RSI index (RSI) has reached approximately 30-which indicates almost primary conditions. Over the past five years, these cases have made optimal purchase signals, followed by large movements from two numbers to the upward trend.
Another interesting event noted by the analyst. In those five cases, each later gathering was 4 % later. Accordingly, if the pattern continues and another mutation continues, this time, the S&P 500 can witness a 20 % transition to the upward trend. This would require an increase to 6900 – transgression TradingshotPrevious estimates, which expected that the index will rise to 6300 and 6600.
Distinctive image via Shutterstock
