the bears grow louder as the S&P lost nearly 5% since last week high. However, as of now, the decline is merely a normal pullback correction within a context of a medium-term an uptrend. In fact, the short-term structure of the S&P 500 index in terms of price movement and momentum suggested that the market could be setting up for a technical rebound that point to a retest of the 950 level on the S&P.

標準普爾500指數從上周高點已經下跌了近5%，悲觀的投資者似乎越來越多，但此次下跌僅僅是中期上升趨勢中一次正常的調整。實際上，從股價波動以及動能角度來看，標準普爾500指數短期進行技術性反彈的可能性加大，目標是950點。

the S&P 500 index has been confined to the 920-950 trading range over the past few weeks. Although recent trading actions suggested strongly that the path with least resistance is up. So, we believe that if the index can close above 950, it would be a positive sign for the broad market going forward

過去兩周來，標普500指數一直在920-950的交易區間震盪，不過近期價格走勢強烈預示著阻力最小的方向是向上。因此我們相信，如果指數收盤站上950點，這對大盤的後續走勢將是一個正面信號。