S&P 500 Index Update: Sideways Price Consolidation Unfolding?
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The S&P 500 Index is experiencing a loss of upward momentum, suggesting a potential sideways price consolidation. Despite the recent rally, there is no indication of a topping formation.
December 12, 2024 | 6:00 pm
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NEUTRAL IMPACT
The S&P 500 Index is experiencing a loss of upward momentum, which may lead to a sideways price consolidation. This could impact the iShares Core S&P 500 ETF (IVV), which tracks the index.
IVV tracks the S&P 500 Index, so any changes in the index's momentum or price direction directly affect the ETF. The current loss of upward momentum and potential sideways consolidation suggest a neutral short-term impact on IVV.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80