U.S. Stocks Chose Extreme Rally Path
The S&P 500 broad market index is signalling a potential path toward an extreme rally in the 6,900–7,000 range despite ongoing political uncertainty. A possible U.S. government shutdown on Wednesday could trigger volatility and add pressure to stocks, but from a technical perspective, opening a long position in the current 6,630–6,670 zone appears highly attractive. Prices are attempting to break through the midpoint of the upward channel, and a successful move would likely drive the benchmark closer to trend resistance.
The bullish case is further supported by institutional flows. The SPDR S&P 500 ETF Trust (SPY) reported record net inflows of $11.34 billion last week, reminiscent of the $19.3 billion surge in April that preceded an unstoppable rally. With strong demand from large investors reinforcing momentum, the setup favours further upside.
My target is 6,900–7,000 points, around 4% above current levels, with a stop-loss placed at 6,500 points to manage downside risk.
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