Thoughts on the S&P 500 and the 4200 level
Been watching the S&P 500 pretty closely lately. It seems to be finding some resistance around the 4200 mark. If we see a sustained close above that, particularly on decent volume, I'd consider that a significant shift, possibly invalidating the current range-bound sentiment I'm holding. For now, it just looks like another ceiling until proven otherwise.
I'm largely in agreement with your assessment; 4200 has been a tough ceiling. The volume aspect is key – a weak push above it could easily lead to a retrace. Are you looking at any specific economic indicators that might support a breakout or further consolidation around this level?