Today 11/30/22 the S&P 500 (SPX) broke above the 11/25/22 peak and the 200 – day moving average (MA). This move could trigger fund managers into additional stock purchases.
The daily SPX chart courtesy of Trading View illustrates the action.
The next resistance is the declining trendline from the January 2022 top. A move above the trendline could open the door for the SPX to reach at least the 08/16/22 top.
Today’s big move up could be the beginning of a spike into a mid – December 2022 major top.