The S&P 500 index dropped by 0.1% on Friday, closing the week at level of 4.505, however, the index gained 2.4% on a weekly level. The biggest gainer for the index this week was UnitedHealth company which gained 1.5% during the week, after posting better than expected quarterly results. The investors sentiment has been supported during the week by the expectations of a soft landing in the US economy, as latest inflation figures show a higher slowdown than anticipated by the market.
The S&P 500 continued its rally toward the higher grounds. At the level of 4.500, the index reached level from May last year. During this period of time the highest level was at 4.600, and charts are pointing to some potential that this level might be tested. However, a reversal is also pointed on charts, as the season of Q2 results is ending. In this sense, a level of 4.400 might be tested.
The S&P 500 continued its rally toward the higher grounds. At the level of 4.500, the index reached level from May last year. During this period of time the highest level was at 4.600, and charts are pointing to some potential that this level might be tested. However, a reversal is also pointed on charts, as the season of Q2 results is ending. In this sense, a level of 4.400 might be tested.
