S&P 500: ATH Test Still in the Cards - Watch Out for a Consolidation-Zone Breakout

Stocks Analysis by Investing.com (Damian Nowiszewski) covering: S&P 500, DAX, NASDAQ Composite. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com

Technicals suggest the index is attempting to break free from the consolidation range, looking to get to ATH levels.

At the end of last week, the S&P 500 appeared set for new record highs following strong gains. Although this remains a likely scenario, the ongoing consolidation this week has delayed the potential breakout. Conversely, if the index breaks below the lower boundary, a correction could ensue. With few nearby support levels, the extent of this potential correction remains uncertain.The Nasdaq, trailing the S&P 500 in reaching historical highs, has experienced a slowdown.

With the potential for further monetary easing by the ECB, the index could gain enough momentum to approach 20,000 points.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Investingcom /  🏆 450. in US

DAX NASDAQ Composite

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

S&P 500 Needs a Sustained Move Above This Key Resistance to Keep Rally GoingStocks Analysis by Investing.com (Damian Nowiszewski) covering: S&P 500, DAX, NASDAQ Composite. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Read more »

S&P 500: Critical Support May Be Under Threat as Bears Pile on the PressureStocks Analysis by Investing.com (Damian Nowiszewski) covering: S&P 500, DAX. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Read more »

GBP/USD Smashes Past Resistance - Weak US Dollar May Set Stage for Fresh HighsForex Analysis by Investing.com (Damian Nowiszewski) covering: GBP/USD. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Read more »

Bitcoin: Stars Are Starting to Align for a Potential Catch-Up Rally With StocksMarket Analysis by Investing.com (Damian Nowiszewski) covering: BTC/USD, Bitcoin, ETH/USD. Read Investing.com (Damian Nowiszewski)'s Market Analysis on Investing.com
Read more »

EUR/USD: Weak US Dollar, Rate Cut Speculation May Fuel Next Leg Above 2024 HighForex Analysis by Investing.com (Damian Nowiszewski) covering: EUR/USD. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Read more »

Tech Stocks Are Rebounding: Here's How to Spot the Top Buys Right NowStocks Analysis by Investing.com (Damian Nowiszewski) covering: . Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Read more »