SPX broke out to all-time highs twice in the past two weeks. But each time, the breakout stalled and reversed. This lack of follow-through is frustrating, but not necessarily bearish — yet. It can lead to problems, though. Look at the accompanying SPX chart. On the far left there is a blue horizontal line over the December 2024 to February 2025 portion. That’s where SPX similarly was trying to make new all-time highs but could not push through. It eventually led to the very nasty correction in March and April 2025.
Currently, there is support at 6,825 (last week’s lows) and 6,720 (the December lows). There is no formal resistance with SPX at all-time highs, but sometimes we use the location of the +4σ “modified Bollinger band” in order to act as a target of sorts. That band is at 7,025 and rising.
Opinion: The S&P 500 is losing the momentum that had been fueling stock investors
Published:
The S&P 500
SPX broke out to all-time highs twice in the past two weeks. But each time, the breakout stalled and reversed. This lack of follow-through is frustrating, but not necessarily bearish — yet. It can lead to problems, though. Look at the accompanying SPX chart. On the far left there is a blue horizontal line over the December 2024 to February 2025 portion. That’s where SPX similarly was trying to make new all-time highs but could not push through. It eventually led to the very nasty correction in March and April 2025.
Currently, there is support at 6,825 (last week’s lows) and 6,720 (the December lows). There is no formal resistance with SPX at all-time highs, but sometimes we use the location of the +4σ “modified Bollinger band” in order to act as a target of sorts. That band is at 7,025 and rising.
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