– S&P 500 broke key resistance level 4385.00
– Likely to rise to resistance level 4450.00.
S&P 500 index recently broke the key resistance level 4385.00 (previous double top from October) standing near the 50% Fibonacci correction of the downward ABC correction 2 from July.
The breakout of the resistance level 4385.00 accelerated the active medium-term impulse wave (3).
Given the prevalence of the risk-on sentiment seen today, S&P 500 index can be expected to rise further toward the next resistance level 4450.00.
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