Robots are bulls, humans are bears

Friday 9 May 2025

The Market EAr on the mechanical bull.

Stuck, but…

SPX is still stuck in some sort of range, but note the short term trend line comes in at the 5700 level (futures). Next resistance above that is the 5750 area and the 200 day slightly higher. A close above that resistance and many will be forced to chase. Supports 5600, and then the 5550 area.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.