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S&P 500 continues to break records but short-term risks are approaching
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FUNDAMENTAL OVERVIEWThe S&P 500 continues to print new all-time highs as risk sentiment remains positive amid lower geopolitical tensions, a neutral Fed and improving US growth.
What could weigh on the market in the short-term is a hawkish repricing in interest rate expectations caused by strong data.
S&P 500 TECHNICAL ANALYSIS – DAILY TIMEFRAMES&P 500 - dailyOn the daily chart, we can see that the S&P 500 recently touched a new all-time high before pulling back a bit.
The buyers will want to see a breakout to increase the bullish bets into new record highs.
S&P 500 TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMES&P 500 - 4 hourOn the 4 hour chart, we can see that we have an upward trendline defining the bullish momentum on this timeframe.