FXStreet reports that economists at Credit Suisse discusses S&P 500 Index prospects.

“The S&P 500 rally is showing signs of stalling as looked for from essentially our Q2 objective of 4200 with the market seen at its ‘typical’ extreme – 15% above its 200-day average – and with Volume/OnBalanceVolume also still not confirming the new highs.” 

“Near-term support moves to 4140, then the lower of the recent gap and price support at 4125/21 next. Beneath here would mark a near-term top to add weight to our view for a consolidation/corrective phase with support then seen next at 4097/96, then 4068.” 

“Should strength directly extend above 4200 on a closing basis though, we see resistance next at 4225/30, then 4259/60.”