FXStreet reports that the Credit Suisse analyst team discuss S&P 500 Index prospects.

“The S&P 500 has achieved our 4436/4456 Q3 objective and with daily and weekly RSI momentum holding bearish divergences our bias remains to not chase the market above here for now and see scope for a temporary pause.”

“Above 4456 though in due course post a consolidation can see a move to the psychological 4500 level, then upper end of the ‘typical’ extreme, now at 4562 (15% above the 200-day average) but with a fresh cap expected here.”

“Volume is starting to stall, increasing the risk for a pause in the uptrend. Breadth measures though stay bullish and continue to reinforce the underlying uptrend.”