#S&P 500 ANALYSIS
The S&P 500 is consolidating within an ascending broadening wedge pattern and is currently attempting to break through the horizontal supply zone.
The Ichimoku Cloud is showing bullish momentum, supporting the upward movement. A breakout above the supply zone would confirm further bullish continuation, while rejection from this level could lead to a potential pullback.
Notably, the S&P 500’s price action often aligns with cryptocurrency market trends, making it a crucial indicator of broader market sentiment.