JPMorgan warns on buying the S-index

An opportunity to buy the S&P 500 index.


JP Morgan stated its forecast for the S&P 500 index.

It also stated that despite the stock market's loss of buying momentum,

any correction in the S&P 500 index, which includes the largest companies

 with large market capitalization, would be a good opportunity to buy on the dip.

The bank also stated that based on current signals, it is likely

that we will see a downward correction in the markets in the near term.

The bank also confirmed that the outlook will remain positive

 if the index maintains stability above the 5,600 level.


From a technical perspective, the index:


The index has already approached strong selling supply areas,

located at the 6,080 level, which are expected to push the index

down and decline in the short term, as the bank predicted.

We are expected to see the index decline to the indicated levels, 

which are located at 6005 and 5900, respectively.

Of course, if the supply zones are breached and a close above them,

specifically, the 6147 level, the correction will fail.

The index is expected to continue rising in the medium term.