S&P 500 (SPX) Pattern Still Argues for Additional Strength

Heading into the final 45 minutes of trading, the SPX remains perched at the top of its intraday range, just beneath a key near-term resistance plateau between 1271.50 and 1273.50. Although the SPX could pause or stall here, and pullback into the 1263/61 area, the underlying pattern still argues for additional strength that hurdles 1271.50-1273.50, which should trigger a secondary thrust towards the 1290-92 target zone.

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