The IVV stock price forecast remains optimistic for Q2 2024, with current levels near $518 showing strong momentum backed by rising tech and energy sectors. Analysts cite steady S&P 500 earnings growth as a key driver. Goldman Sachs Group Inc. strategists have boosted their forecast for the S&P 500 Index, now targeting 5,200 by year-end, citing increased profit estimates as the driving factor. This marks a 3.9% jump from the current levels, following the index surpassing 5,000 earlier this month (read: 5 ETFs at All-Time Highs as S&P 500 Rally Continues). The NASDAQ 100 has shot straight up in the air over the last couple of months after melting down in what probably can only be described as a little bit of schizophrenic behavior. A lot of this was due to the tariff threats, which now the markets don’t seem to be taken seriously at all. We have since catapulted to fresh new highs and I think Q3 is probably going to see a little bit more of the same. I do expect the occasional pullback, but at this point, I think the 22,250 level is your initial support level, followed by 21,000. Recent trading sessions have pushed IVV to $518, and technical charts in the IVV stock price forecast point to continued upward momentum as sector rotation benefits financial and industrial stocks.
