Today we will focus on lower timeliness than we usually analyze, and today we will focus on the intraday performance of the US reference index. The medium to long term scenario for the stock market is that it has been correcting upwards since the low point of nearly 20% in 2022 and will decline again. Now I think selectivity may once again hit the 3600 point area.

But in the short term, we still see potential growth, and in fact, this is the scenario we proposed in today's article. We see that the last impulse is bullish, which means that demand has been tight and we are currently in the process of consolidation (in the form of a continuation triangle). We understand it as possible accumulation, and perhaps we can see a second bullish impulse proportional to the first one. Please remember, these are not investment suggestions.

Alvaro Basagoiti

Á lvaro Basagoiti is a professional trader and FXGlobe ambassador based in Madrid. He is passionate about the stock market and holds a degree in economics and a master's degree in consulting.

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