Posted 4/16/2024, 6:07:00 PM
S&P 500 Flashes Bullish Signal, Potential 19% Gain to 6,000 by August 2025
- S&P 500 flashed a bullish signal suggesting a 19% gain to 6,000 by August 2025 (BofA)
- Signal was 12 consecutive months of positive year-over-year returns from March 2023 to March 2024
- Breaks prior 12-month streak of negative year-over-year returns from April 2022 to March 2023
- Despite April weakness, long-term trend still up signalling potential for further gains
- In short-term, watch for S&P 500 support at 5,000 and 4,600 to 4,800 (9% downside)