We head into Q2 with very little that suggests the bull trend may reverse or even fatigue. The narrow ascending channel bears testament to the one-directional move, as price action heads up and to the right with few challenges. The S&P 500, like the other indices analysed in this forecast, achieved multiple all-time highs in Q1 and therefore has plenty of clean air ahead as it charts a new course.
It is difficult to imagine the index maintaining this pace into Q2 and perhaps the path of US stocks is more likely to decelerate to a more moderate upward trajectory.After developing a thorough understanding of the technical setups, why not download the complete Q2 forecast for US equities for the full picture?100 has also performed well in Q1, rising 8.88% at the time of writing .
Adopting the same 161.8% Fibonacci projection as that applied to the S&P 500, the upside marker appears more of a challenge – providing a positive reward/risk profile for Q2 if the bullish trend continues in the same way it ended Q1. The Dow witnessed a steeper ascent in the latter months of 2023 than what we saw in Q1, which suggests in Q2 we could possibly see a further flattening of the uptrend but an uptrend nonetheless.
España Últimas Noticias, España Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Fuente: DailyFX - 🏆 305. / 63 Leer más »