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On Wall Street the three main indices today have updated the historic highs again, only to fall back. What to expect now?
On Wall Street, new short-term gains cannot be ruled out after breaking the historic highs also for the Dow Jones and the Nasdaq Composite, which have joined the S & P500.
The setting is undoubtedly positive, but from the current values it is also possible, especially for the S & P500, a retracement of the prices, which could be followed by a restart on the upside.
I would not take it for granted that the rise of the three main indices will continue immediately, and I would indicate very close uphill targets, bearing in mind that even the first supports are not far from the current values.
In the event of a retracement of the indices it would be a correction and not a collapse of the market that maintains a solid bullish structure.
For the S & P500, considering the volatility we have witnessed in the last few days, on the upside we can indicate a target of 3,150 points that could be reached within a week if the climb continues.
On the downside the index could fall back to area 3,000, but even before this threshold we have a support area between 3,000 and 3,040 points, from which the S & P500 could try to restart.
In the event of a fall of 3,000, attention will be paid to 2,960 points first and then to 2,920 points.