Going Long for S&P 500 Record
The S&P 500 index was be poised for new highs in early January. It has slowed its steep upward trajectory with the recent price retracement. Nonetheless, it has moved the resistance of an ascending channel up, providing ample space for the index to set new all-time highs. I am considering opening a long trade at the current prices, given their proximity to the support of the channel. My target is a 2.5-3.0% further upside.
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