SPx (Still or Yet...)SP500 Index Forecast
The price continues to attempt a correction towards 5281 as long as it trades below 5320. However, overall stability above 5325 would indicate a continuation of the bullish trend towards 5360 and beyond.
The bearish scenario will be activated if the price breaks below 5281 and 5266.
Pivot Line: 5313
Resistance Levels: 5325, 5340, 5357
Support Levels: 5281, 5263, 5227
Today’s expected trading range is between the support 5264 and the resistance 5370.
Meanwhile, U.S. rate futures indicate a 3.6% probability of a 25 basis point rate cut at the June FOMC meeting and a 22.8% chance of a similar cut at the July policy meeting.