Is there further upside for the stock market?
The post Is there further upside for the stock market? appeared on BitcoinEthereumNews.com. The S&P 500 reached another record high on Friday, but will the advance continue? The S&P 500 index closed 0.01% lower on Friday after hitting a new record high of 6,315.61. The market continues to extend its consolidation, remaining near record territory. A handful of mega-cap tech stocks are still supporting the bulls, but much will depend on this week’s earnings reports, which will take center stage. On Thursday, earnings from Tesla (TSLA) and Alphabet (GOOG), among others, will be released and closely watched. This morning, the S&P 500 is expected to open 0.2% higher, likely remaining near record levels, just above 6,300. Investor sentiment has slightly deteriorated, as reflected in last Wednesday’s AAII Investor Sentiment Survey, which reported that 39.3% of individual investors are bullish, while 39.0% are bearish. The S&P 500 remains near record highs, as the daily chart shows. Weekly chart: S&P 500 still consolidating Last week, the S&P 500 gained 0.59%, fully retracing the previous week’s 0.3% loss. The index continues to fluctuate after a strong rebound from April lows. Support remains around the 6,150 level – the highs from January and February. Nasdaq 100 extends rally, but watch for topping signs The Nasdaq 100 closed 0.05% lower on Friday but reached a new all-time high of 23,153.21. The index has recently been driven by record highs in Nvidia and Microsoft. While no strong bearish signals have emerged yet, the recent price action may be forming a potential topping pattern. VIX hovers near lows – But reversal risk grows The Volatility Index dropped to a local low of 16.28 on Friday, still above the prior Thursday low of 15.70. It briefly rebounded to 19.50 during Wednesday’s intraday dip before continuing a consolidation. Historically, a dropping VIX indicates less fear in the market, and rising VIX accompanies…
The post Is there further upside for the stock market? appeared on BitcoinEthereumNews.com.
The S&P 500 reached another record high on Friday, but will the advance continue? The S&P 500 index closed 0.01% lower on Friday after hitting a new record high of 6,315.61. The market continues to extend its consolidation, remaining near record territory. A handful of mega-cap tech stocks are still supporting the bulls, but much will depend on this week’s earnings reports, which will take center stage. On Thursday, earnings from Tesla (TSLA) and Alphabet (GOOG), among others, will be released and closely watched. This morning, the S&P 500 is expected to open 0.2% higher, likely remaining near record levels, just above 6,300. Investor sentiment has slightly deteriorated, as reflected in last Wednesday’s AAII Investor Sentiment Survey, which reported that 39.3% of individual investors are bullish, while 39.0% are bearish. The S&P 500 remains near record highs, as the daily chart shows. Weekly chart: S&P 500 still consolidating Last week, the S&P 500 gained 0.59%, fully retracing the previous week’s 0.3% loss. The index continues to fluctuate after a strong rebound from April lows. Support remains around the 6,150 level – the highs from January and February. Nasdaq 100 extends rally, but watch for topping signs The Nasdaq 100 closed 0.05% lower on Friday but reached a new all-time high of 23,153.21. The index has recently been driven by record highs in Nvidia and Microsoft. While no strong bearish signals have emerged yet, the recent price action may be forming a potential topping pattern. VIX hovers near lows – But reversal risk grows The Volatility Index dropped to a local low of 16.28 on Friday, still above the prior Thursday low of 15.70. It briefly rebounded to 19.50 during Wednesday’s intraday dip before continuing a consolidation. Historically, a dropping VIX indicates less fear in the market, and rising VIX accompanies…
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