S&P 500 may be forming head-and-shoulders top pattern, signaling potential market direction changes.

From Investing.com: 2025-01-02 02:36:00

The ISM manufacturing index is expected to be 48.2, with the prices paid index forecasted to rise to 51.4. Leveraged futures contracts show lack of demand, with March contracts finishing at 74.5. The reverse repo facility saw a significant jump to $473 billion, surprising many. Speculation about a shift in debt issuance strategy may push long-term rates higher. The Fed’s rate-cutting cycle seems to be ending, with minimal likelihood of multiple cuts this year. The S&P 500 is at a critical juncture, with a potential head-and-shoulders top pattern forming. This signals potential market direction changes.



Read more at Investing.com: S&P 500: Head-And-Shoulders Top Pattern Remains a Concern as New Year Kicks Off