S&P 500 Nears All-Time High as V-Shaped Recovery Continues

The S&P 500 index is on the verge of completing a strong V-shaped recovery following the brief market correction in April, triggered by President Trump’s announcement of global trade tariffs. As of pre-market trading, the index is hovering around 6,117, with the all-time high of 6,147 now within touching distance.

Market momentum suggests that this key resistance level could be tested during today’s session or tomorrow, paving the way for a potential breakout. Historically, July ranks as the second-strongest month for the S&P 500 since 1999, according to data from TrendSpider, adding to the bullish sentiment.

If the index breaks and closes above the 6,147 level, it could set the stage for a continued uptrend, with the next psychological resistance levels at 6,200 and 6,400 as we head deeper into the summer trading period.

On the downside, the 6,000 level remains a key support zone. A break below this could indicate a shift in momentum and open the door for further downside risk.

Investors are now turning their attention to two key upcoming events: the 9th of July trade deadline and the start of Q2 earnings season, which kicks off in mid-July. These catalysts are likely to add volatility and direction to the market in the coming weeks.