Market Rally Continues as Investors Shift Focus from Recession Concerns to Upside Opportunities
The recent market downturn, triggered by fears of a US recession, has quickly turned around as positive economic data boosts investor sentiment. Today’s trading session is expected to start on a bullish note, with indexes aiming for all-time highs. Let’s analyze the technical situation in the S&P 500, Nasdaq, and DAX.
S&P 500 – Bulls Gain Momentum
The S&P 500 has erased recent losses and is now eyeing the critical supply zone at 5550 points. Breaking through this level could lead to further gains, targeting the historical high of 5670 points. The sustainability of these gains will depend on upcoming US economic data.
Nasdaq – Potential Breakout Ahead
Dynamic gains this week have shifted the Nasdaq’s outlook from bearish to potentially bullish. A breakout above 17,600 points could signal a return to the upward trend, with the next target at 18,600 points.
DAX – German Index on the Rise
The DAX has broken out of medium-term consolidation and is now targeting the supply zone at 18,400 points. A breakthrough at this level could pave the way for further gains towards the historical highs near 19,000 points.
Overall, the market is showing signs of resilience as investors shake off recession fears and focus on the potential for upside opportunities. Stay tuned for upcoming economic data releases that could impact market sentiment and performance.
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