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R.Linda Trading - forecast

SP500 / US500 - Countertrend correction before growth

FOREX forecast
💡Ideas For SPX500

📈 Countertrend correction before growth

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SP500 is correcting against an upward trend. In the second half of the week, the market received fairly positive fundamentals during the reporting period.

S&P 500 futures found support after strong reports from Meta and Microsoft, which exceeded earnings expectations and forecasts thanks to AI. The rise in futures supported demand for the “Magnificent Seven” despite Powell's hawkish comments. The focus is on Apple and Amazon reports in the evening, which could strengthen the tech rally. On Friday, we are seeing a countertrend correction in which the market is testing the 6288 zone of interest.

Support levels: 6288.4, 6262.6

Resistance levels: 6342, 6371

Most likely, the market will form a false breakdown of support during the correction. If the bulls keep the index above the key level, we can expect continued growth in the short and medium term.