S&P500 Futures Gain as Risk-On Sentiment Fuels Best Week of 2024

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S&P 500 Futures Rise After Risk-On Sentiment Drives Best Week of 2024

Equities fluctuated between gains and losses on Friday but ultimately ended higher, with the S&P 500 achieving a 3.9% weekly gain. The risk-on sentiment last week propelled the broad index to its strongest performance of 2024, with momentum still targeting 5,584 and 5,620, provided it stabilizes above 5,525.

Bullish Scenario:
As long as trades above 5525, there will be a bullish trend toward 5584 and 5620

Bearish Scenario:
stability under 5525 by closing 4h candle means will support falling to get 5491 and 5460

Key Levels:
- Pivot Line: 5525
- Resistance Levels: 5584, 5620, 5670
- Support Levels: 5491, 5460, 5409

Today's Expected Trading Range: The price is anticipated to fluctuate between 5525 and 5620.

Tendency: Bullish momentum