S&P 500 Index: December 2022 high at 4101 needs to cap to keep a bear market – Credit Suisse
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S&P 500 is at a key inflection point, which is seen as key as to whether a bear market remains in place, economists at Credit Suisse report.
“S&P 500 is back above its 200-Day Moving Average, but with further key resistances still seen intact for now at the downtrend from the beginning of 2022, currently seen at 4047, with the key December ‘reversal week’ high at 4101. We remain of the view that a bear market can remain in place while beneath here.”
“A close above 4101 would be seen to turn the core trend neutral and open the door to strength back to 4147/55, then 4300/4325.”
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