S&P500 No signs of stopping here. Can hit 6900 before years end.

The S&P500 index (SPX) has turned the 1W MA50 (blue trend-line) into Support, successfully testing it and holding and is now going for the All Time High Resistance test. Based on its 1W RSI structure and candle action, it resembles the previous times since 2023 that after a quick consolidation, it broke upwards again aggressively.

As you can see, both of those Bullish Legs that started on the 2023 Higher Lows trend-line, hit at least their 1.618 Fibonacci extension before a new 3-week red pull-back. In the case of 2024, even the 2.0 Fib ext got hit a little later.

As a result, we expect to see at least 6900 (Fib 1.618) before the end of 2025, with the good case scenario (Fib 2.0) going as high as 7500.

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