S&P 500 recently erupted from its minimum range since December, confirming a short -term trend. It also crossed less than 200-DMA for the first time since November 2023, Note Société Générale’s Fx Note.
The risk of a greater decline
“If the index fail to overcome the bottom scale of the previous range at 5770pts, there may be a risk of a greater decrease. There are the following possible support in 5520 points, and switching 23.6 % of the entire upward trend since 2022 and September Loom 5400/5370pts.”
