S&P 500 Technical Outlook: Key Levels to Watch in Q2 2024
A deep-dive into the S&P 500 chart structure heading into Q2, identifying critical support and resistance zones for traders and investors.
David Okafor
The S&P 500 has consolidated just below its all-time highs, forming a symmetrical triangle on the weekly chart. A decisive break above 5,300 would open the door to an extension toward 5,600, while a failure at current levels could see a retest of the 5,000 psychological support. RSI on the monthly timeframe remains in bullish territory but is approaching overbought conditions, suggesting momentum may moderate in the near term.