SP 500 – Technical Chart
July 28, 2021
SPX is Bullish
Anticipating further upside in SP500 this week into end of month. Earnings yet to price in. That broader U.S. markets are stable despite the rout in FXI and China’s equity meltdown is positive. Capital is obviously flowing into U.S. equities as a result. Policy decision confirms the FED’s dovish stance. Powell stating ongoing vaccinations were helping to support the economy. So far, sentiment is constructive with Covid-19 mandates in progress. Upside targets of 4455-4461 spx by end of month.
