SPX Nears 5750 Call Wall: Will It Break Out or Fade?

Despite weaker-than-expected Consumer Confidence and Richmond Fed Manufacturing data, the market continues to edge higher. The significant JPM call position at the 5750 level looms as a potential short-term resistance without a strong catalyst. Technically, bearish divergences are emerging in key indicators like the RSI and CCI, signaling potential hesitation or a possible pullback.

Market On Close

24 Sep 2024

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