As the stock market flirts at record highs again, investors want to know if the portfolio can continue to climb the proverbs of worry, or if recent profits were headline risks and last shortness of breath before the next recession began.
This is a fair question in the market that has been primarily performed on analyst expectations only when prognosis and endpoint measurements are measured.
Many analysts expected the market to approach peak levels by mid-year, but no one wanted the bumpy rides the stock market actually saw.
This year’s S&P 500 roller coaster ride has led many people to scratch their heads and wonder what will happen next. Many on Wall Street are revamping the S&P 500 target, including two long-time tech analysts who shared recently updated forecasts.
Technical analysts see why the S&P 500 can continue the rally at 2025.Bloomberg & Sol; Getty Images
The Standard & Poor’s 500 index was entered at 5,868 in 2025 and peaked at 6,144 on February 19th. Then, by the time April rolled, I returned almost all of that profit. But when President Trump’s so-called “liberation day” – he announced a sweep rate plan that rattled the market, the index lost another 15% in a few days, setting a new low at 4,982 on April 8th.
After that, the market began to return. One month after the release date on May 2, we recovered the full measure of the decline caused by the tariff announcement. By May 13th, the S&P 500 was in positive territory that year.
Since then, the ground has risen to over 6,000 on June 6th. That and the 6,144 record were where many market observers were expected to see resistance, where markets that failed to destroy could potentially recede, potentially going back to April lows.
News events will not be part of the S&P 500 chart until they appear in pricing, but they take into account what market engineers think could happen next. Technology analysts can cite legitimate concerns about potential economic slowdowns, sticky inflation, uncertain tariff policies, and geopolitical tensions around the world.
These headlines cast a shadow over the market, as market engineers are looking for breakthroughs, confirming that the recent bounceback is not just a bare market rally.
Two well-known technical analysts have revealed they are hoping for a rally to take place.
Adam Turnquist, chief technical strategist at LPL Financial, says investors don’t think they’ll encourage rally to new highs after seeing a troubling economic background.
However, it focuses on technology and relies on history, Turnquist says that another picture will come up.
First of all, the bottom is a process of repeated testing after the market declines, but the April slump was V-shaped and steeper and faster, but there was no retest of a severe bouncing and a recession.
According to Turnquist, there is a reason to believe in the benefits. in Interview about “A Money Life with Chuck Jaffe,” Turnquist shows that, in the last 75 years, meaningful new highs have been occurring three months after the last high was set, and tends to continue to gain momentum, with the average return of the index over the next 12 months being nearly 10%.
“We cannot underestimate the fact that there is a lot of trade uncertainty,” Turnquist said. “Yes, we’ve passed the uncertainty of peak policy when it comes to trade, but it’s still very up and there’s still a lot of headline risk. We’ll also talk about the deficit. There’s a risk there.”
Turnquist said that if the market struggles to break through the new high, many analysts hope to call double tops and return to at least the 5,400 level of the S&P 500.
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So Turnquist expects the market to find a “meeting of support at these levels,” but that’s not the move he’s looking for. Instead, he called this “not selling rips right now at the market where you want to buy dip.”
He is not the only technical analyst to foresee those rifts and new highs. Matt Fox, president of Ithaca Wells Management, said Interview for the June 17th edition of Money Life The sale in April caused many “technical damages” necessary to set up the rally.
He said he currently has a 7,000 goal for the S&P 500. This means about 20% profit over the next 12 months.
“The momentum is strong and we’ve seen a lot of big participation across the sector,” Fox said. “It’s not just a handful of stocks that drove this rebound from the low tariffs in April. It was the whole market. I think it’s a good sign that we’ll not only test those new highs, but will continue to rise and maintain our new highs for a foreseeable future.”
Fox said the current chart is particularly strong, with many cup-and-handle patterns showing stocks on during the breakout crisis.
“We seem to be in this sweet spot where the charts are lined up perfectly and can lead to explosive movements because of the improvements in the basics,” Fox said.
“This reminds me of that,” he said. “I think I was too bullish, but I think it’s going to be difficult to be pretty constructive in the future market.”
