S&P500
S&P 500 Outlook: A Technical Correction Before Momentum Builds
As we approach the new trading week, I anticipate a brief technical adjustment toward the 6380 level. This zone is expected to act as a stabilizing support, setting the stage for a renewed upward movement.
Despite recent volatility, momentum indicators suggest that buyers may re-emerge after this shallow retracement. Should the market hold above 6380, we may witness a continuation of the broader bullish trend in early August.
Key Level to Watch*: 6380
Short-Term Bias*: Bullish above support
On July 27th, European Commission President Ursula von der Leyen and U.S. President Donald Trump will meet in Scotland for a key summit on tariffs. The outcome could trigger an immediate market reaction.