FX.co ★ S&P 500 Spotlight: Unraveling Market Trends with #SP500

Today there was news that the US and Iran may sign a peace deal in the very near future, and the Strait of Hormuz is fully open for navigation. Against this backdrop, the price of the #SP500 index continued to rise aggressively and easily renewed its all-time high. At the moment, trading is already taking place around the 7715 level. We have updated the previous high by almost 100 points. If the peace deal is indeed signed tomorrow, then I expect the rise to continue. Otherwise, we may see an impulsive correction at least down to 7622 and lower. And then we’ll be waiting for Friday’s labor market data and the market’s reaction to them.