The S&P 500’s recent performance suggests a potential bottoming process, though the market remains in a neutral stance. On November 19, 2024, the index avoided a decline below the previous Friday’s lows, with early selling pressure reversing sharply within an hour. This indicates that neither bulls nor bears are currently dominating the market.
Analysts observe that intermarket dynamics, such as consolidating yields and a pausing dollar ascent, are contributing to this neutral posture. These factors have allowed sectors like Chinese equities to experience modest gains, though they remain in consolidation phases without a clear uptrend.
Source – FXStreet
In the precious metals market, a short-term upward movement is noted. However, experts advise caution, suggesting that bulls may require more time to establish a sustained rally. The interplay between yields, the dollar, and metals prices continues to be a focal point for investors.
Overall, while there are indications of a bottoming process in the S&P 500, the market’s neutral stance calls for careful monitoring of economic indicators and sectoral movements to confirm any definitive trend reversal.
