Is S&P 500 Heading for a Next Historic Record?

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For a long time, we have been seeing market growth within the green channel.

Not so long ago, the price pushed off from the lower bound of this channel, after which we saw a rapid uptrend.

Most likely, now the bulls are heading to the upper green bound and the resistance level of 3329.2. This scenario is supported by the fact that the price is significantly higher than the moving average.

The decline is possible if the support level 3258.8 breaks, which is on the moving average. In this case, the bears will open a path in the direction of the level 3224.4, which is on the lower bound of the green channel.


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