Fundamental OverviewAfter a couple of weeks of consolidation, the S&P 500 this week found some footing and eventually extended the rally into a new all-time high following the soft US Jobless Claims and ISM Services PMI reports. Overall, the data didn’t change much in terms of interest rates expectations, but it reinforced the view that the Fed is going to deliver at least two rate cuts by the end of the year. The soft-landing narrative is still the main driver of the market, and the data is indeed backing it for now with ongoing disinflation and resilient economy as we head into the easing cycle. S&P 500 Technical Analysis – Daily TimeframeOn the daily chart, we can see that after two weeks
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