US500 - Breakout to New All-Time Highs!

US500 suggests the market has put a definitive end to its recent downward movement, signaling that a major bullish trend is set to continue. This complex correction, which the chart labels as complete at the 6506.8 low, looks resolved. The index has since staged a powerful rebound and is currently pressing right up against the major upper trendline resistance, which defined the limits of the entire corrective phase.

A clear and sustained move above this key trendline will provide final confirmation that the correction is over and that a significant new upward wave has begun. The previous area of congestion around 6760 is now expected to act as strong support for the index, preventing any minor pullbacks from turning into a deeper decline. With the current price around 6,812.61 and the all-time high at 6,920.34, the index is technically well-positioned to challenge and surpass this record high soon.