Technical Analysis and Outlook:
The S&P 500 Index has displayed consistent upward momentum during the current week’s trading session, progressively advancing to higher levels following the completion of the Outer Index Rally at 7,311.
Looking ahead to the trading sessions, projections indicate that the Index is well-positioned to continue its upward trajectory, with the next target for the Outer Index Rally at 7,440, followed by a subsequent target at 7,580.
However, it is expected that upon reaching the Outer Index Rally at 7,440, a transient retracement to the Mean Support level of 7,332 might occur before the resumption of upward momentum.