– S&P 500 broke resistance level 7600.0

– Likely to rise to resistance level 7800.00

S&P 500 recently broke above the pivotal resistance level 7600.0 (upper border of the sideways price range inside which the price has been moving from the start of May).

The breakout of the resistance level 7600.00 accelerated the active impulse wave iii – that belongs to the impulse wave 3 from June.

Given the strong daily uptrend, S&P 500 can be expected to rise further to the next resistance level 7800.00 (target for the completion of the active impulse wave iii).