S&P 500 Information Technology Index

by JFD Research
08:48, 2024/12/18

Our main scenario envisages further price increases. After breaking out to new highs, the index consolidated at the breakout level, only to rise again directly in the last few days. We currently see a price target of 5,000 points within the next three months. This will remain in place as long as the index does not fall back below 4,600 points.

Below 4,600, a secondary scenario favors a drop to the 4,300 point mark.

Below the EMA 200 at around 4180 points, the rally would be over for us analytically and a much more pronounced correction towards 3,700 and later 3,400 points would have started. This is currently unlikely.

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