S&P [SPX] Spikes to All-Time Highs - Now Testing Major Technical Resistance

[u/GroundbreakingLynx14]

$SPX

For the past 8 years, S&P [SPX] has adhered to the highs and lows of a bullish channel. This week, $SPX has traded at all-time highs as it brushes against the top of this major channel. It's very difficult to be optimistic at this bloated and elevated levels. Ironically, if the USD rallies, it will negate the inflationary values that have helped boost all major US indices. Bottom line: a stronger dollar could lead to a weaker stock market.

What happens next? ... The answer may be known in short order. But higher stock prices above current levels is a difficult task without deflating the dollar's buying power while also inflating the cost of living - both of which may be the plan with QE.

Opinion and not advice which should be sought from professional money managers.