The S&P 500 is hovering around the 5664 level. Will it break out to new highs, or is a pullback on the horizon? While this is a hot topic for analysts and traders, I personally don't monitor the S&P 500 index all that closely these days—and here’s why. Though the S&P 500 is a widely followed benchmark, I’ve found that its daily movements don’t always reflect what’s happening in my own portfolio. I don't currently hold any ETFs that track the index directly, so its performance isn’t the best proxy for my personal returns. I hold a mix of individual stocks and treasury bond ETFs, and their price action is often driven by more focused or nuanced factors. For example, I own Occidental Petroleum (OXY), and I’ve noticed its performance correlates more with oil prices and energy secto
Key Resistance Level: Will S&P 500 Break Out or Turn Lower?
The S&P 500 has rebounded to 5,650 points—its level before April’s sharp sell-off and a key technical resistance zone. Following strong earnings reports from the Magnificent 7, this week’s market focus shifts to the FOMC and its signals on interest rate cuts. The market is still pricing in three rate cuts this year. ------------- Can the S&P 500 successfully break above the 5,600 level, or will it turn lower? And more importantly, can it overcome the seasonal “Sell in May” pattern?
+ Follow
+11