At the start of 2022, the USA 500 stock index booked a new all-time-high level. However, immediately afterwards the index started a decline, which recently reached below the 50-day simple moving average.
If the index continues to decline, it might look for support in the lower trend line of the channel up pattern, which has guided the index since late 2020. Below the trend line, the December low levels at 4,500.00,
Meanwhile, a potential surge could first find resistance in the November high level at 4,750.00, before aiming at the all-time-high level at 4,800.00.