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The chart patterns “look” bullish to this old observer, but there’s absolutely nothing in the cycle structures or projections to suggest that a breakout is imminent or even likely. The market is tapping the top of its range, but it needs to prove that it will break out by doing so. If it does, then it has room to run to the xxxx range within weeks. If it doesn’t, there mere glimmers of a top, but again, proof of bear requires a big bite to the downside.
Here are the support and resistance levels, cycle projections, and indicators to watch to determine the direction of the next breakout.
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Precise S&P 500 price targets and timing through 2025-2026
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Full-cycle matrix with short-, intermediate-, and long-term projections
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