S&P500
The index reached its next major technical target at 7,813, from which a corrective pullback developed last week. The primary ascending trendline remains intact and healthy as long as this support holds, the probability of a significant bearish reversal remains low. Additional record highs cannot be ruled out, with the next resistance level located at 8,125. A more substantial correction would become likely only after the formation of a lower swing high.
Resistance levels: 7,813; 8,125; 8,438
Support levels: 7,188; 6,875; 6,563; 6,250; 5,937; 5,781; 5,625.
