Technical Analysis and Outlook:
During the trading activity of the previous week, the S&P 500 Index experienced significant volatility before reestablishing its strong bullish trend. Initially, the Index faced a substantial decline, reaching our designated target of Mean Support at 6370. Subsequently, it rebounded vigorously, attaining our target of Mean Resistance at 6470, and is currently aiming for the Outer Index Rally target of 6543. It is essential to recognize, however, that there remains a possibility of a decline to Mean Support at 6426 before the upward trajectory resumes.
During the trading activity of the previous week, the S&P 500 Index experienced significant volatility before reestablishing its strong bullish trend. Initially, the Index faced a substantial decline, reaching our designated target of Mean Support at 6370. Subsequently, it rebounded vigorously, attaining our target of Mean Resistance at 6470, and is currently aiming for the Outer Index Rally target of 6543. It is essential to recognize, however, that there remains a possibility of a decline to Mean Support at 6426 before the upward trajectory resumes.
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