S&P 500: Resilient Rise Challenges Upper Resistance

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The S&P 500's latest weekly close at 4971 reflects ongoing bullish momentum, positioned just below the upper Bollinger Band resistance of 5136.3. The market's resilience is further underscored by the MACD's positive divergence above its signal line. Looking down, the Simple Moving Average at 4854.7 serves as the pivotal support, reinforcing the trend's strength. As the index navigates between these technical boundaries, the near-term outlook suggests a cautious but optimistic view for potential upward continuation.