- Analytics
- News and Tools
- Market News
- S&P 500 Index: Weekly close above 4524 is critical to avoid a more correction lower – Credit Suisse
S&P 500 Index: Weekly close above 4524 is critical to avoid a more correction lower – Credit Suisse
The S&P 500 has completed a large bearish “outside day” to reinforce the existing bearish “reversal week” from 4750. A weekly close below the key 63-day average support at 4524 would warn of a more serious correction lower, analysts at Credit Suisse report.
A close above 4524 this Friday can help stabilize the market
“Critical remains as to how we close the week, especially with Payrolls on Friday as a weekly close below 4524 would warn of a more serious correction lower especially in light of widening US credit spreads and with both the VIX and Oil also currently through key technical levels.”
“Immediate support is seen at the 50% retracement of the October/November rally at 4512/10, below which can see support next at 4486 ahead of gap support from mid-October at 4448/38. The critical long-term 200-day average is currently seen lower at 4299.”
“A close above 4524 this Friday can help stabilize the market with resistance then seen next at 4560. More important resistance is seen at the recent price gap, 13-day exponential average and ‘outside day’ high at 4631/55.”
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
