S&P Showing Short-term Exhaustion

The S&P appears to be exhibiting short-term exhaustion following the strong rebound from its recent correction. A retest of the trendline breakout, aligning with the 23.6% and 38.2% Fibonacci retracement levels, is likely in the near term. This pullback could provide a buying opportunity before the index resumes its upward trajectory, potentially reaching new all-time highs.