J.P. Morgan: “The S&P 500 Index pulls back from short-term overbought conditions, but the chart lacks patterns and signals that indicate a lasting bearish trend reversal. We are looking for buying interest to develop near the 3,020-3,055 initial support confluence. Secondary and medium-term support levels are clustered at 2,930-2,970. We believe the rally will advance to targets in the 3,200s into the first half of next year”
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