Chart of the Day - Tuesday, June 10, 2025

🏆  Today's Chart of the Day was shared by Mark Ungewitter (@mark_ungewitter). 
 

• The S&P 500 ($SPX) closed higher for the third consecutive day, finishing less than 2% below all-time highs as a V-shaped recovery off the April lows continues to play out.
   
• Despite the recent correction, $SPX has continued to trend higher within a 16-year rising channel  that dates back to the 2009 low. 
   
• Mark notes that a projection of the channel’s upper boundary points to a year-end target of nearly 7,000, more precisely 6,970, offering more than +15% potential upside from current levels.
   

The Takeaway: The S&P 500 remains within a 16-year rising channel, with its upper boundary indicating a year-end target just shy of 7,000.