From December 17 through December 29, 2024, the S&P 500 Index will be in focus for both investors and analysts. Over the last few weeks, the index has been on a rise which is quite typical for this time of the year. As of late December 16, the index peaked at 6,076, just 0.26% below the all-time high of 6,109.9 that was reached at the beginning of the month. However, slight fluctuations in prices should be expected over the next few days.
This week's key event will be the Fed meeting scheduled for December 17–18. The US central bank is expected to cut interest rates by a quarter of a percentage point, potentially supporting the index and helping to keep it at higher levels. In addition, the companies included in the index keep demonstrating strong financial results this year amid stagnation of the global economy, which may also contribute to the growth of the quotes.
However, investors may be more cautious ahead of the holidays, affecting the overall market dynamics. From December 17 through December 29, the S&P 500 Index is likely to fluctuate due to both positive and negative factors. Investors should closely monitor economic news and company reports to make informed decisions.
As practice shows, the S&P 500 Index has a positive trend towards the end of the year, and its current value in the range of 6074.1 to 6075.5 points is likely to remain unchanged through the end of December. This would mean that the index may rise from 4763.54 to 6075.5 for the year, an impressive gain of 26.85%. Meanwhile, as of December 17, about 36.12% of the 500 companies showed an increase compared to December 13.
Overall, despite some possible short-term fluctuations, the long-term outlook for the S&P 500 remains positive. For now, the main recommendation is to buy S&P 500 futures when the level of 6042.1 is reached.
Suggested options for trading:
Place a Take Profit at the level of 6074,1 and a Stop Loss at the level of 6000.
This content is for informational purposes only and is not intended to be investing advice.
