Institution: The US stock market has shaken off the 'black hole' and the upward path is clear

BlockBeats News: On May 15th, the market trend on Wednesday did not bring much cheers to Wall Street, but the relatively calm trading session may release a positive signal: the market environment is shifting towards a direction closer to normalization. The S&P 500 index fluctuated slightly throughout Wednesday, ultimately closing with only a slight increase of 0.1%. Andrew Graham, Managing Partner and Founder of Jackson Square Capital, stated that due to Wednesday being a relatively light day for economic data, the market remained stable ahead of the release of the April Producer Price Index (PPI) and retail sales data on Thursday. J.P. Morgan's head of technical strategy, Jason Hunter, stated in a report to clients on Tuesday evening that the US market seems to have jumped out of a "black hole" and may enter a slow upward channel. He wrote, "If history is any guide, the 'bull market gap' of the S&P 500 index covers the key resistance level of 5750-5785, indicating that the market has returned to a low volatility rebound pattern." He was referring to the index's significant opening on Monday. Hunter pointed out that there seems to be a clear upward path for the stock market at present, with the possibility of another increase of about 4%. He said, "Before we see clear signs of a slowing trend, a technical pattern resembling a short-term top, or headline news that may reverse emerging bullish sentiment, we have listed the 6125-6170 point range as a potential upward target area