The American stock market has been bullish for many years (see also "Fundamental Analysis and Recommendations")
Thus, the S&P 500 index last week reached a new all-time high near 4440.0, and at the beginning of the new week, the S&P 500 remains close to this record level. A signal for building up long positions will be a breakdown of the local resistance level of 4440.0.
In an alternative scenario, a downward correction of the S&P 500 will begin.
The breakdown of the short-term important support level of 4409.0 can be a signal for the start of this scenario with goals at the support levels of 4300.0, 4245.0 (May highs), 4118.0, 4005.0.
Trading recommendations
Sell Stop 4390.0. Stop-Loss 4442.0. Targets 4352.0, 4275.0, 4245.0, 4118.0, 4005.0, 3940.0
Buy Stop 4442.0. Stop-Loss 4390.0. Targets 4500.0, 4600.0, 4700.0
*) S&P 500: Current Fundamental Analysis and Market Expectations
**) the most up-to-date "hot" analytics and trading recommendations (including entries into trades "by-the-market") - https://t.me/fxrealtrading
