The price actions of the US Wall Street 30 CFD index have evolved into a steeper minor ascending channel after it hit a low of 47,875 on 2 January 2026, and it continues to trade above its 20-day and 50-day moving averages at the time of writing (see Fig. 2).
In conjunction, the hourly RSI momentum indicator has staged a bullish breakout on Monday, 12 January 2026, above a parallel descending trendline resistance, and has not reached an extreme overbought condition.
These observations suggest that the US Wall Street 30 CFD index is likely in the process of transitioning into a potential bullish acceleration sequence within its medium-term uptrend phase that has remained intact since the 23 May 2025 low.
Tthe ratio charts of the S&P Financials exchange-traded fund (ETF) and the SPDR S&P Bank ETF over the S&P 500 ETF have traded above their respective 50-day moving averages decisively in November and December, which suggests a potential medium-term outperformance of US banks (see Fig. 3).
Watch the 49,250/49,096 key short-term pivotal support, and a clearance above 49,606 (current all-time high area) sees the next intermediate resistances coming in at 49,805/49,840 and 50,265/50,335 (upper boundary of the minor ascending channel and Fibonacci extension).
However, failure to hold at 49,250/49,096 negates the bullish tone for another round of minor corrective decline to expose the next intermediate supports at 48,870/48,770 (close to the 20-day moving average), and 48,480.
