S&P 500 Eyes 7600 After Bullish BreakoutUS SP 500 CFDFOREXCOM:SPX500FOREXcomWhile an end to the war may have been priced more times than I care to remember, with earnings growth topping forecasts across most sectors on the back of decent nominal economic growth and the AI infrastructure boom, a weaker US dollar starting to deliver tailwinds for offshore earners, and with technicals favouring upside, it’s hard to dislike the near-term outlook for US stocks. With our S&P 500 contract breaking to fresh highs, a long setup may therefore be in order. If we were to see a pullback and bounce from or near the former record high of 7517, longs could be established with a tight stop below, targeting higher levels. With the US, UK and Hong Kong markets offline for public holidays, it’s creating some caution about chasing at these levels, hence why I’d like to see a retest and bounce before entry. As for targets, the index often gravitates towards big figures once it’s broken to fresh highs, making 7600 the first cab off the rank. With RSI (14) pushing higher again and MACD on the cusp of delivering a bullish crossover, the momentum picture favours longs over shorts, as does the bullish price action and raft of medium and longer-term moving averages with a positive slope. Good luck! DS